336
4
Hong Kong Annual Administration Reports, 1841-1941
COLONIAL REPORTS—ANNUAL.
REPORT ON THE BLUE BOOK FOR 1915.
(ABRIDGED.)
I.—FINANCES.
The revenue for the year amounted to $11,786,106, being $378,474 more than the estimate, and $778,833 more than the revenue for the previous year.
Compared with the returns for 1914 there were decreases under every head with the exception of Licences and Internal Revenue and Miscellaneous Receipts. "Interest" remained at nil.
The expenditure amounted to a total of $15,149,267, inclusive of a sum of $1,839,832 spent on Public Works Extraordinary and of $3,062,388 charged to railway construction.
The total expenditure brought to account, though not incurred solely on account of the year under review, amounted to $15,149,268, being $2,662,497 over the estimate and $4,393,043 more than the expenditure in 1914. Compared with the estimates, there were decreases under 20 heads as against 5 heads where there were increases. The excess, amounting to $812,732, under Miscellaneous Services, was largely due to loss on subsidiary coins, of which coins to the face value of $5,900,000 were demonetized during the year (causing an excess over the estimate of $488,057); and to expenditure on account of the war which was not estimated for ($253,030). It was decided to charge further expenditure on railway construction to general account, and subsequently also to abandon the raising of a loan of £250,000 under Ordinance No. 8 of 1913, which together account for an excess of $3,062,388 under Special Expenditure Railway Department not estimated for, while the charge on account of public debt was exceeded by $55,152 on account of interest on advances for railway construction. Military expenditure was less than the estimate by $167,230. The Imports and Exports Department decreased $206,583 on account of less opium purchased, while the Harbour Department saved $160,705 on special expenditure by partial postponement of the scheme for acquisition of buoys in the harbour. Other decreases were mostly due to savings on personal emoluments.
The deficit on the year's working was $3,363,161, and the balance of assets and liabilities showed on the 31st December a debit balance of $452,686.
336
4
Hong Kong Annual Administration Reports, 1841-1941
COLONIAL REPORTS—ANNUAL.
REPORT ON THE BLUE, BOOK FOR 1915.
(ABRIDGED.)
L-FINANCES.
The revenue for the year amounted to $11,786, 106, being $378,474 more than the estimate, and $778,833 more than the revenue, for the previous year.
Compared with the returns for 1914 there were decreases under every head with the exception of Licences and Internal Revenue and Miscellaneous Receipts. "Interest" remained at nil.
The expenditure amounted to a total of $15,149,267, inclusive of a sum of $1,839,832 spent on Public Works Extraordinary and of $3,062,388 charged to railway construction.
The total expenditure brought to account, though not incurred solely on account of the year under review, amounted to $15,149,268, being $2,662,497 over the estimate and $4,393,043 more than the expenditure in 1914. Compared with the estimates, there were decreases under 20 heads as against 5 heads where there were increases. The excess, amounting to $812,732, under Miscellaneous Services, was largely due to loss on subsidiary coins, of which coins to the face value of $5,900,000 were demonetized during the year (causing an excess over the estimate of $488,057); and to expenditure on account of the war which was not estimated for ($253,030). It was decided to charge further expenditure on railway construction to general account, and subsequently also to abandon the raising of a loan of £250,000 under Ordinance No. 8 of 1913, which together account for an excess of $3,062,388 under Special Expenditure Railway Department not estimated for, while the charge on account of public debt was exceeded by $55,152 on account of interest on advances for railway construction. Military expenditure was less than the estimate by $167,230. The Imports and Exports Department decreased $206,583 on account of less opium purchased, "while the Harbour Department saved $160,705 on special expenditure by partial post- ponement of the scheme for acquisition of buoys in the harbour. Other decreases were mostly due to savings on personal emoluments. The deficit on the year's working was $3,363,161, and the balance of assets and liabilities showed on the 31st December a debit balance of $452,686.
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