AnnualReport-1932 — Page 53

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6. With the exception of "Duties", "Post Office" and "Land Sales" each Head of Revenue showed an increase over the Estimates for 1932. In regard to "Duties" this was to be expected as liquor and tobacco duties were reckoned on the basis of $1=1s. whereas the average rate throughout the year was over 1s. 3d. The decrease in Post Office revenue as compared with the Estimate is due to the failure to materialise of an anticipated increase in radio telegraphy and to a heavy decline in parcel post particularly to Great Britain and China, the introduction of tariffs in the former country acting adversely. Less activity in land transactions caused a decline in the number of sales and the amount realised is $379,341 short of the estimate.

7. Mention should also be made of two items under Licences, &c., which show large decreases in spite of the fact that the total collected under this Head was $270,000 over the estimate. The Opium Monopoly was estimated to yield $3,000,000. In 1931 more than this was received, but sales have decreased continuously throughout the year 1932 and the revenue collected was $685,774 less than the estimate. The other item was Stamp Duties. The estimate for this was $2,800,000 but the amount realised was only $2,519,201, $280,799 short of the estimate while no less than $3,010,443 was collected in 1931. The large decrease was due to stagnation in the stock market and also to higher sterling exchange as bills of exchange being assessed ad valorem required lower valued stamps. The years 1931 and 1932 are not properly comparable under this class of revenue as there is no doubt that 1931 was abnormal; stock exchange, land transactions, agreements, mortgages, &c., all being exceptionally numerous.

8. The principal increases over the amounts as estimated were as follows:

Licences and Internal Revenue not Otherwise Specified :—

Estimate Actual Increase Liquor Licences
Increased rates from 1st January 1932 $400,000 $514,707 $114,707 Vehicles Motor
Vehicles Other
Motor Drivers $160,000
$41,500
$28,000 $198,978
$57,846
$42,811 $38,978
$16,346
$14,311

Increased fees accounted for the first two items and more licensed drivers for the third.

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6. With the exception of "Duties", "Post Office" and "Land Sales" each Head of Revenue showed an increase over the Estimates for 1932. In regard to "Duties" this was to be expected as liquor and tobacco duties were reckoned on the basis of $1=1s. whereas the average rate throughout the year was over 1s. 3d. The decrease in Post Office revenue as compared with the Estimate is due to the failure to materialise of an anticipated increase in radio telegraphy and to a heavy decline in parcel post particularly to Great Britain and China, the introduction of tariffs in the former country acting adversely. Less activity in land transactions caused a decline in the number of sales and the amount realised is $379,341 short of the estimate. 7. Mention should also be made of two items under Licences, &c., which show large decreases in spite of the fact that the total collected under this Head was $270,000 over the estimate. The Opium Monopoly was estimated to yield $3,000,000. In 1931 more than this was received, but sales have decreased continuously throughout the year 1932 and the revenue collected was $685,774 less than the estimate. The other item was Stamp Duties. The estimate for this was $2,800,000 but the amount realised was only $2,519,201, $280,799 short of the estimate while no less than $3,010,443 was collected in 1931. The large decrease was due to stagnation in the stock market and also to higher sterling exchange as bills of exchange being assessed ad valorem required lower valued stamps. The years 1931 and 1932 are not properly comparable under this class of revenue as there is no doubt that 1931 was abnormal; stock exchange, land transactions, agreements, mortgages, &c., all being exceptionally numerous. 8. The principal increases over the amounts as estimated were as follows: Licences and Internal Revenue not Otherwise Specified :— Estimate Actual Increase Liquor LicencesIncreased rates from 1st January 1932 $400,000 $514,707 $114,707 Vehicles MotorVehicles OtherMotor Drivers $160,000$41,500$28,000 $198,978$57,846$42,811 $38,978$16,346$14,311 Increased fees accounted for the first two items and more licensed drivers for the third.
Baseline (Original)
A (1) 3 6. With the exception of "Duties" "Post Office and "Land Sales" each Head of Revenue showed an increase over the Estimates for 1932. In regard to "Duties" this was to be expected as liquor and tobacco duties were reckoned on the basis of $1=1s. whereas the average rate throughout the year was over ls. 3d. The decrease in Post Office revenue as com. pared with the Estimate is due to the failure to materialise of an anticipated increase in radio telegraphy and to a heavy decline in parcel post particularly to Great Britain and China, the introduction of tariffs in the former country acting adversely. Less activity in land transactions caused a decline in the number of sales and the amount realised is $379,341 short of the estimate. 7. Mention should also be made of two items under Licences, &c., which show large decreases in spite of the fact that the total collected under this Head was $270,000 over the estimate. The Opium Monopoly was estimated to yield $3,000,000. In 1931 more than this was received, but sales have decreased continuously throughout the year 1932 and the revenue collected was $685,774 less than the estimate. The other item was Stamp Duties. The estimate for this was $2,800,000 but the amount realised was only $2,519,201 $280,799 short of the estimate while no less than $3,010,443 was collected in 1931. The large decrease was due to stagnation in the stock market and also to higher sterling exchange as bills of exchange being assessed ad valorem required lower valued stamps. The years 1981 and 1932 are not properly comparable under this class of revenue as there is no doubt that 1981 was abnormal; stock exchange, land transactions, agreements, mortgages, &c., all being exceptionally numerous. or 8. The principle increases over the amounts as estimated were as follows: Licences and Internal Revenue not Otherwise Specified :— Estimate. Actual. Increase. Liquor Licences Increased rates from 1st January 1932 Vehicles Motor Vehicles Other Motor Drivers Increased fees accounted for the 1st two items and more licensed drivers for the third $ 400,000 $ 514,707 $ 114,707 160,000 198,978 38,978 41,500 57,846 16,346 28,000 42,811 14,311
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A (1) 3

6. With the exception of "Duties" "Post Office and "Land Sales" each Head of Revenue showed an increase over the Estimates for 1932. In regard to "Duties" this was to be expected as liquor and tobacco duties were reckoned on the basis of $1=1s. whereas the average rate throughout the year was over ls. 3d. The decrease in Post Office revenue as com. pared with the Estimate is due to the failure to materialise of an anticipated increase in radio telegraphy and to a heavy decline in parcel post particularly to Great Britain and China, the introduction of tariffs in the former country acting adversely. Less activity in land transactions caused a decline in the number of sales and the amount realised is $379,341 short of the estimate.

7. Mention should also be made of two items under Licences, &c., which show large decreases in spite of the fact that the total collected under this Head was $270,000 over the estimate. The Opium Monopoly was estimated to yield $3,000,000. In 1931 more than this was received, but sales have decreased continuously throughout the year 1932 and the revenue collected was $685,774 less than the estimate. The other item was Stamp Duties. The estimate for this was $2,800,000 but the amount realised was only $2,519,201 $280,799 short of the estimate while no less than $3,010,443 was collected in 1931. The large decrease was due to stagnation in the stock market and also to higher sterling exchange as bills of exchange being assessed ad valorem required lower valued stamps. The years 1981 and 1932 are not properly comparable under this class of revenue as there is no doubt that 1981 was abnormal; stock exchange, land transactions, agreements, mortgages, &c., all being exceptionally numerous.

or

8. The principle increases over the amounts as estimated were as follows:

Licences and Internal Revenue not Otherwise Specified :—

Estimate. Actual. Increase.

Liquor Licences

Increased rates from 1st

January 1932

Vehicles Motor

Vehicles Other

Motor Drivers

Increased fees accounted for the 1st two items and more licensed drivers for the

third

$

400,000

$

514,707

$

114,707

160,000 198,978 38,978 41,500 57,846 16,346 28,000 42,811 14,311

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