646
Hong Kong Annual Administration Reports, 1841-1941
HER MAJESTY'S COLONIAL POSSESSIONS.
Revenue.
In connexion with the Appropriation Ordinance for 1882, which Her Majesty has sanctioned, I am laying to-day upon the table some despatches and some financial papers. The financial papers I am putting before you consist, as usual, of the comparative statements of revenue and expenditure of the past year in comparison with that of the preceding year—that is the statement of 1881 compared with that of 1880. I find that the revenue for the year 1881 amounted to over $1,100,000, being the largest revenue ever collected in this Colony. The proceeds of the sale of Crown lands I have always held to represent the capital of the Colony, and therefore in the figures I have given you I do not include that important item. But adding that item, we find that the sum actually collected amounts to $1,309,428. The receipts of the preceding year amounted to $1,056,329, and thus last year the amount collected was more than a quarter of a million in excess of that of the preceding year. Taking the item of stamp revenue, the total sum collected in 1881 amounted to $173,641, in the preceding year it had reached $127,623, showing an increase of $46,000. In looking through the stamp returns, I find an increase under the great majority of items: bank notes in circulation, bills of exchange, bank cheques, bills of lading, bottomry bonds, charter parties, transfer of shares, ordinary adhesive stamps, and a large item for conveyances and assignments. This, I need hardly tell you, is the largest revenue ever collected under our stamp Ordinance. When I called upon the collector of stamps in 1880 to estimate the amount which would be collected in 1881, he estimated it at $115,000, so that the increase which occurred that year was largely in excess of his anticipations.
Opium Revenue.
Now, there is one item in our revenue which, compared with the two previous years, showed in 1881 no change, viz., $205,000 from the opium farmer because it had been sold in 1879 for three years. I sold the opium farm in 1879 at an increase of price from $132,000 to $205,000. But it was said that I had rather unduly forced up the price of the farm, and it was anticipated that when next I should have to dispose of the farm it would be sold at a smaller figure than the current rate; and indeed one of my officials, a man of ability and knowledge of the Colony, in a communication he made in London to one of the gentlemen in the Colonial Office, expressed great apprehension with respect to the Opium Farm, and in a memorandum which was transmitted to me by the Secretary of State, he said that there would be a falling off in the opium revenue when the Opium Farm was sold
Page 665
Page 666
646
Hong Kong Annual Administration Reports, 1841-1941
HER MAJESTY'S COLONIAL POSSESSIONS.
Revenue.
In connexion with the Appropriation Ordinance for 1882, which Her Majesty has sanctioned, I am laying to-day upon the table some despatches and some financial papers. The financial papers I am putting before you consist, as usual, of the com- parative statements of revenue and expenditure of the past year in comparison with that of the preceding year-that is the state- ment of 1881 compared with that of 1880. I find that the revenue for the year 1881 amounted to over $1,100,000, being the largest revenue ever collected in this Colony. The proceeds. of the sale of Crown lands I have always held to represent the capital of the Colony, and therefore in the figures 1 have given you I do not include that important item. But adding that item, we find that the sum actually collected amounts to $1,309,428. The receipts of the preceding year amounted to $1,056,329, and thus last year the amount collected was more than a quarter of a million in excess of that of the preceding year. Taking the item of stamp revenue,-the total sum collected in 1881 amounted to $173,641, in the preceding year it had reached $127,623, showing an increase of $46,000. In looking through the stamp returns, I find an increase under the great majority of items: bank notes in circulation, bills of exchange, bank cheques, bills of lading, bottomry bonds, charter parties, transfer of shares, ordinary adhesive stamps, and a large item for conveyances and assignments. This, I need hardly tell you, is the largest revenue ever collected under our stamp Ordinance. When I called upon the collector of stamps in 1880 to estimate the amount which would be collected in 1881, he estimated it at $115,000, so that the increase which occurred that year was largely in excess of his anticipations.
+
Opium Revenue,
Now, there is one item in our revenue which, compared with the two previous years, showed in 1881 no change, viz., $205,000 from the opium farmer because it had been sold in 1879 for three years. I sold the opium farm in 1879 at an increase of price from $132,000 to $205,000. But it was said that I had rather unduly forced up the price of the farm, and it was anticipated that when next I should have to dispose of the farm it would be sold at a smaller figure than the current rate; and indeed one of my officials, a man of ability and knowledge of the Colony, in a communication he made in London to one of the gentlemen in the Colonial Office, expressed great apprehension with respect to the Opium Farm, and in a memorandum which was transmitted to me by the Secretary of State, he said that there would be a falling off in the opium revenue when the Opium Farm was sold
Page 665Page 666
No comments yet.
Private notes are available after approval.