Hong Kong Annual Administration Reports, 1841-1941
PAPERS RELATING TO
Yard and the Military Cantonments, the plans of which were forwarded to your Lordship early in the year. This work (the expediency of which has been recognised by the Colonial Government for many years past, though it has now for the first time received the entire concurrence of the local authorities representing the Army and Navy) has for its principal object the provision of additional means of communication between the eastern and western portions of the town, now almost cut off from one another by land in the occupation of the Admiralty and War Departments; the one narrow road which runs through this property being insufficient for the present traffic and entirely inadequate to permit of that expansion of the town eastward which is required to provide an outlet for an overcrowded population. Besides the main advantage derivable from the scheme there are other incidental ones of much importance to the Imperial Departments concerned. Thus the Admiralty will obtain reclaimed land worth (at the low estimate of $3 a square foot) $156,792, and, what is of more importance, will save the cost which would shortly have to be incurred for the removal of the present silted-up and often noxious foreshore in front of the Naval Yard, obtaining in its place a convenient cut-stone basin, 400 feet by 200 feet, offering a much needed protection to boats and launches, as well as sufficiently deep water close along shore at all times of tide. While the War Department will obtain land worth, at a similar low valuation, $1,325,856, much of which will not, I understand, be required for military purposes and will thus be available for sale. Under these circumstances I do not permit myself to entertain a doubt that a substantial Imperial contribution will be made towards the cost of the work, estimated at $691,000, which would be a heavy burden if required to be borne entirely by the Colony—and this more especially inasmuch as it is the obstruction caused by Imperial property which has necessitated the expense. In any case it may be hoped that an improvement so absolutely needed for the welfare and progress of the Colony will not be long delayed.
Various Statistics.
51. The following statistics furnished to me by Mr. Wodehouse, Acting Treasurer, may prove of interest:-
30th Sept. 1879. 30th Sept. 1889. $ $ Total amount of deposits current and fixed in the European banks in Hong Kong. 7,068,600 23,882,000 Ditto (estimated) in Chinese banks- 15,000,000 Total amount in the savings bank 211,000 Notes in circulation with bullion in reserve of all banks. 4,776,856 9,100,826 Market value of all registered Companies in Hong Kong. 39,380,000 63,921,700` for paragraphs. All other changes are related to formatting the text according to the given instructions. The original word count and order are preserved.
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Hong Kong Annual Administration Reports, 1841-1941
PAPERS RELATING TO
Yard and the Military Cantonments, the plans of which were forwarded to your Lordship early in the year. This work (the expediency of which has been recognised by the Colonial Government for many years past, though it has now for the first time received the entire concurrence of the local authorities representing the Army and Navy) has for its principal object the provision of additional means of communication between the eastern and western portions of the town, now almost cut off from one another by land in the occupation of the Admiralty and War Departments; the one narrow road which runs through this property being insufficient for the present traffic and entirely inadequate to permit of that expansion of the town eastward which is required to provide an outlet for an overcrowded population. Besides the main advantage derivable from the scheme there are other incidental ones of much importance to the Imperial Departments concerned. Thus the Admiralty will obtain reclaimed land worth (at the low estimate of $3 a square foot) $156,792, and, what is of more importance, will save the cost which would shortly have to be incurred for the removal of the present silted-up and often noxious foreshore in front of the Naval Yard, obtaining in its place a convenient cut-stone basin, 400 feet by 200 feet, offering a much needed protection to boats and launches, as well as sufficiently deep water close along shore at all times of tide. While the War Department will obtain land worth, at a similar low valuation, $1,325,856, much of which will not, I understand, be required for military purposes and will thus be available for sale. Under these circumstances I do not permit myself to entertain a doubt that a substantial Imperial contribution will be made towards the cost of the work, estimated at $691,000, which would be a heavy burthen if required to be borne entirely by the Colony--and this more especially inasmuch as it is the obstruction caused by Imperial property which has necessitated the expense. In any case it may be hoped that an improvement so absolutely needed for the welfare and progress of the Colony will not be long delayed.
Various Statistics.
51. The following statistics furnished to me by Mr. Wodehouse, Acting Treasurer, may prove of interest:-
30th Sept. 1879.
30th Sept. 1889.
$
$
Total amount of deposits current and fixed in the
European banks in Honk Kong.
7,068,600
23,882,000
Ditto (estimated) in Chinese banks-
15,000,000
Total amount in the savings bank
211,000
Notes in circulation with bullion in reserve of all
4,776,856
9,100,826
banks.
Market value of all registered Companies in 39,380,000
Hong Kong.
63,921,700
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