1887-1903
COLONIAL REPORTS—ANNUAL.
(b.) Expenditure.
297
9
to
3. On the other hand the Expenditure amounted to $3,628,447.13, of which a sum of $473,205.89 was expended on Public Works Extraordinary.
(c.) Land Sales.
4. The amount received from Land Sales, $816,222.92, showed an excess over the Land Sales in 1899 of $198,398.20.
5. I append tables* showing:
(a.) The heads of revenue.
(b.) The heads of expenditure.
(c.) The total revenue and expenditure for the six years—1895-1900.
(d.) The assets and liabilities of the Colony.
(e.) The amount of paper currency in circulation.
(d.) Taxation.
6. Taxation in Hongkong still remains comparatively light, though the cost of living is high, owing to the increase in the price of food and the difficulty of obtaining house accommodation at a reasonable figure. There were no important changes in Taxation during the year.
(e.) Public Debt.
7. In 1899 the Sinking Fund, which was created three years previously with a view to gradually paying off the public debt of £341,799 15s. 1d., incurred by Government for the purpose of defraying the cost of certain Public Works, some of them, such as Markets and Waterworks, of a remunerative nature, stood at £12,625 18s. 11d., and during the past financial year it rose to £16,485 13s. 2d.
8. With provision so satisfactorily made for the liquidation of the public debt, and with a revenue naturally increasing from year to year, the financial stability of the Colony appears to be assured.
II.—TRADE, AGRICULTURE, AND INDUSTRIES.
(a.) Imports and Exports.
1. I append tables* showing:
(a.) The principal articles of import during the years 1899 and 1900 in vessels of European construction.
(b.) The total tonnage of imports and exports for the last five years.
(c.) The imports and exports of junks in foreign and local trade during 1899 and 1900.
* Not printed.
1887-1903
COLONIAL REPORTS—ANNUAL.
(b.) Expenditure.
297
9
to
3. On the other hand the Expenditure amounted $3,628,447.13, of which a sum of $473,205.89 was expended on Public Works Extraordinary.
(c.) Land Sales.
4. The amount received from Land Sales, $816,222.92, showed an excess over the Land Sales in 1899 of $198,398.20.
5. I append tables* showing:
(a.) The heads of revenue.
(6.) The heads of expenditure.
(c.) The total revenue and expenditure for the six years—
1895-1900.
(d.) The assets and liabilities of the Colony.
(e.) The amount of paper currency in circulation.
(d.) Taxation.
6. Taxation in Hongkong still remains comparatively light, though the cost of living is high, owing to the increase in the price of food and the difficulty of obtaining house accommoda- tion at a reasonable figure. There were no important changes in Taxation during the year.
(e.) Public Debt.
7. In 1899 the Sinking Fund, which was created three years previously with a view to gradually paying off the public debt of £341,799 15s. 1d., incurred by Government for the purpose of defraying the cost of certain Public Works, some of them, such as Markets and Waterworks, of a remunerative nature, stood at £12,625 18s. 11d., and during the past financial year it rose to £16,485 13s. 2d.
S. With provision so satisfactorily made for the liquidation of the public debt, and with a revenue naturally increasing from year
to year,
the financial stability of the Colony appears to be assured.
II.-TRADE, AGRICULTURE, AND INDUSTRIES.
(a.) Imports and Exports.
1. I append tables* showing:-
(a.) The principal articles of import during the years 1899
and 1900 in vessels of European construction.
(b.) The total tonnage of imports and exports for the last
five years.
(c.) The imports and exports of junks in foreign and
local trade during 1899 and 1900.
* Not printed.
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