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PUBLIC RECORD OFFICE
Reference :-
C.O. 882
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ALLY WITHOUT PERMISSION OF THE COPYRIGHT PHOTOGRAPH—NOT TO BE REPRODUCED PHOTOGRAPHIC-
PUBLIC RECORD OFFICE, LONDON
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In October 1848, Lord Torrington writes as Lord Torrington to Lord Grey; follows:
My Lord,
Queen's House, Colombo,
October 11, 1848.
At the commencement of the session of the Legi lative Council, I thought it very desirable that the members of t at body should be in possession of an authenticated statement of the revenue and expenditure of the colony for the first half of the current year, and that they should be accurately informed of the state of the funds of this Government on the 1st day of January and the last day of June, respectively,
2. Accordingly I directed the tables which I have now the bonour to enclose, to be prepared by the Auditor- General, and I take the opportunity of offering a few remarks upon the financial statements which they contain.
3. It will be satisfactory to your Lorde'ip to find, that, by the exercise of rigid economy in every department, there has been a decrease in the actual expenditure for the half-year, as compared with the estimated, of not less than 20,4351; that the diminished expenditure has been most striking under the head of establishments, and that the economical ar angements which have also been adopted under other heads have been of so successful a nature, that I have been enabled to devote to the expenditure on roads and public works, the repair and improvement of which were extremely urgent, nearly 10,0001. more than was anticipated. Nevertheless, the total expenditure of the half-year fell within the total revenue for the same period, by not less a sum than 14,594.; a result which is the more gratifying as it could not have been anticipated that circumstances would have since occurred, which must necessitate an expenditure for military purposes entirely beyond the ordinary calculations which could have been framed.
6. Upon the whole, it is satisfactory to find, that even deducting the arrears, the total revenue of the first half of 1848, compared with the corresponding period of 1847, exhibits only a decrease of 8,5741., while the decrease in the comparative expenditure for the same periods was more than six times that amount.
In December Lord Torrington writes as fol- lows, showing the effect of the measures he had adopted:
2. With my despatch No. 180, of the 11th October, I transmitted to your Lordship several interesting financial tables, showing an excess in the revenue of the island over its expenditure during the first six months of the present year, of 14,5942, arising entirely from the large diminution of expenditure within that period, as compared not only
October 11, 1848.
Lord Torrington to Loid Grey;
December 15, 1848.
Financial Men-
sures taken and
their results.
Decrease of expenditure first half
of 1848, compared with first half of 1847, 21,7912
Decrease in the actual compared
with estimated expenditure.for the same period, 20,4351.
Decrease of actual over estimated expenditure in nine months, 25,4981.
Ditto of expenditure for same
period, 29,3931.
Address of Acting Governor to
Legislative Council; October 1850.
Parliamentary Papers, 1851.
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with the corresponding period of the preceding year, but also with the estimated expenditure of the current year.
3. The decrease in the amount of revenue collected during the same period amounted to 3,574%, compared with 1847.
4. The disturbances in the interior, and the extra- ordinary military charges entailed upon the colony since the close of the first half of the current year, have naturally placed the Government in a less favourable financial position than must otherwise have been the case.
7. From Table 1, it will be apparent that the excess of expenditare over the revenue during the first nine months of the year has not been more than 9,2794, although, as I have before remarked, the unforeseen expenses occasioned by the insurrection have been defrayed during that period, with almost the only exception of the amount due to the Madras Government (including the hire of a stemmer) on account of the extra charges incurred by sending down the detachment of the 25th Regiment to Trincomalee.
8. By Table No. 2 it will appear that, although there has been a nett dearcase in the amount of revenue actually collected compared with the estimated amount, still there has been a corresponding decrease of expenditure to the same extent within about 20001, which has been dis- tributed under many hoads, but most extensively under the head of establishments.
9. By Table No. 3 it will be seen that the balances in favour of Government amounted on the 30th of September (after deducting the same received on loan from the Oriental Bank, vis., 17,0781, up to that date), to 64,7801.
Lord Torrington left the island in November 1850, and the following address of the Acting Governor proves the highly satisfactory state of the finances at the close of his government :
I cannot conclude the observations which I have thought it incumbent on me to make, without congratu- lating you, Gentlemen, on the remarkable, and of late years, quite unprecedented state of financial prosperity and promise, of which the papers that I now lay on the table afford such satisfactory proof.
The comparative statement of the revenue and expenditure for the half of the prevent year, shows a surplus revenue of 10,6631. 18s. 3jd. And to judge from the large sumpte- ceived into the public treasury since that date, nooom- panied by the unceasing, care which has been taken to diminish the expenditure whenever an opportunity has been offered, by the fusion into one of different depart- ments of the public service, and a rigid control over the outlay of the public money, it may, I'think, be justly and reasonably anticipated that this surplus will be increased by the end of the financişi year.