1887-1903
105
COLONIAL REPORTS.-ANNUAL.
5
the votes for the following year, involved a disbursement of 13 monthly payments in 1892, and an apparent additional expenditure amounting to $78,190.
The excess of Revenue over Ordinary Expenditure amounted to $354,458, but if we deduct the sum of $134,800, which is shown above to have been of an exceptional and non-recurrent character, the excess is reduced to $219,659. If, further, the sum of $67,500, derived from an exceptional land sale at the close of the year be deducted, the excess becomes reduced to $152,158.
It should be observed in this connexion that the Revenue from Land Sales will have to be largely discounted in future years, for the reason that, as the Colony becomes more settled, there is less demand for Crown land and a diminished supply of land available for sale; and that the revenue derived from profits on the sale of subsidiary coins is of a most precarious nature.
The balance of assets over liabilities on the 31st December, was $35,105.87, but in the assets $300,000 is included as value of subsidiary coins in transit which it may take a considerable time to dispose of.
PUBLIC DEBT.
The debt incurred under Ordinance 11 of 1886 still stands at 200,000l., while the sinking fund to be applied for its redemption has increased from 34,053l. to 42,758l. during the year.
LEGISLATION.
The following Ordinances were passed during the year :-
No. 1—An Ordinance to give effect to the change in name and style of the Surveyor General and Surveyor General's Department,
No. 2. An Ordinance entitled "The Patent Ordinance, 1892."
No. 3—An Ordinance to make further provision as to the issue of Night Passes for Chinese.
No. 4.—An Ordinance to amend Ordinances No. 3 of 1860, No. 15 of 1885, and No. 17 of 1891 in relation to the power of the Governor in Council to grant certain licenses.
No. 5—An Ordinance to amend Ordinance No. 15 of 1888, entitled "The Rating Ordinance, 1888," and Ordinance No. 16 of 1890, entitled "The Waterworks Ordinance, 1890."
No. 6.—An Ordinance to amend "The Bankruptcy Ordinance, 1891."
No. 7.—An Ordinance to amend Ordinance No. 4 of 1865, relating to Offences against the person.
No. 8.—An Ordinance to repeal Ordinance No. 19 of 1890, and to amend "The Dangerous Goods Ordinance, 1873."
1887-1903
105
COLONIAL REPORTS.-ANNUAL.
5
the votes for the following year, involved a disbursement of 13 monthly payments in 1892, and an apparent additional expenditure amounting to $78,190.
The excess of Revenue over Ordinary Expenditure amounted to $354,458, but if we deduct the sum of $134,800, which is shown above to have been of an exceptional and non-recurrent character, the excess is reduced to $219,659. If, further, the sum of $67,500, derived from an exceptional land sale at the close of the year be deducted, the excess becomes reduced to $152,158.
It should be observed in this connexion that the Revenue from Land Sales will have to be largely discounted in future years, for the reason that, as the Colony becomes more settled, there is less demand for Crown land and a diminished supply of land avail- able for sale; and that the revenue derived from profits on the sale of subsidiary coins is of a most precarious nature.
The balance of assets over liabilities on the 31st December, was $35,105.87, but in the assets $300,000 is included as value of subsidiary coins in transit which it may take a considerable time to dispose of.
PUBLIC DEBT.
The debt incurred under Ordinance 11 of 1886 still stands at 200,000%, while the sinking fund to be applied for its redemption. has increased from 34,0531. to 42,7581. during the year.
LEGISLATION.
The following Ordinances were passed during the year :-
No. 1-An Ordinance to give effect to the change in name and style of the Surveyor General and Surveyor General's Department,
No. 2. An Ordinance entitled "The Patent Ordinance,
1892."
No. 3-Au Ordinance to make further provision as to the
issue of Night Passes for Chinese.
No. 4.--An Ordinance to amend Ordinances No. 3 of 1860, No. 15 of 1885, and No. 17 of 1891 in relation to the power of the Governor in Council to grant certain licenses.
No. 5-An Ordinance to amend Ordinance No. 15 of 1888, entitled "The Rating Ordinance, 1888," and Ordinance No. 16 of 1890, entitled "The Waterworks Ordinance, 1890."
No. 6.-An Ordinance to amend "The Bankruptcy
Ordinance, 1891.
**
No. 7.—An Ordinance to amend Ordinance No. 4 of 1865, relating to Offences against the person.
No. 8.--An Ordinance to repeal Ordinance No. 19 of 1890, and to amend "The Dangerous Goods Ordinance, 1873. "
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