1931-10-23 — Page 2

BANKS

HONG KONG AND SHANGHAI ] THE CHARTERED BANK OF

BANKING CORPORATION.

Authorized Daplial ....... 190,000,000 Inimed and Pully Paid-up 0 900,000,000 Bmarts Fuhla 200

Berting

EL

& 4,000,000 010,000,000

Reserve Link City at Propriakoen --- $34,909,600 HEAD UNFICS, HONO KOND.

"Mr.

BOARD OF DIREOTOKO 1--. 1. Mr. B. č. 8. Maskie.

Chelroes.

Flon. Mr. J. J. Palmsson,

Deputy Chairm

a. B, Four, Sr.

M. Complen, Mag. J. A. Mummar, Meg.

2. Leady Lewis, Kag. 7. II. 3. Khay, Haq,

AMOT

MANOKON

DATAVIA

BOMBAY

J. F. Warma, Bog

**G Drayburn. Rot-

CALCUTTA CANTON

COLOMBO

DAIREN DAIRUN

MAXPHONG

KAMBUR

MAMBUR

MANROW WARRIN MONOKW

ILOILO

IPOH

JOHOR

доля

KOWLOON

ANCHES:-

KUALA LUMPUR

LONDON

LYONK

MALA.COM MANILA

MUAN (Zahar)

MUKDEN

NEW YORK

PRIPINO

ГЕНАМО

BANGOON

HAIGON

HAN RANG140%

SHANDE

BINGAPOR

BOGBABATA

GUNDEI PATANI TIENTIA

TOKYO

THENOTAC TOKOHAMA

Cart Accouts opened in anal Curranay sad and Deposits ronivad ter mną your m skater prfuse la Local Curreney and Storžíá a ≫ term which will be quoted an application. Hong Kong Rack Fubruary, 1991.

HONG KONG SAVINGS BANK.

The Business of sha aborg Back to scadors. by the HONG KONG AND SHANGHAI

Bulan many b BANKING OPORATION,

bialed on application.

FOR THE HONGKONG AND SHANOHA!

BANKING CORPORATION.

V. M. GRAYBURN,

Táng Lose. 1351 duz, 10.

Chief Manager.

THE BANK OF CANTON, LTD. Established 1912,

Head Oce:-Hong Kong.

Autherland Capital (IX. Cawoney) 811,000,00

Pald-Up Capital s

1,065,000

Ausarre Pub. 1.100,000

RRAHOUER

Canton, Shanghal,

Haskow,

Bangkok, Yaw York and San Frameless,

CORRESPONDENTS

LONDON BANKEES

The Lloyd's Den, Iderlied

In all principal cists of the World.

Vorige lange and banking bastasse of

every description taascted.

Hale Dapodik Banas (various sizes) si a poszły

Teulal of from $8 to $45.

LOOK POONG SHAN,

Chlef Manager.

INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1853.

HEAD OFFICE: LONDON.

Paid-up Capital

Reservó Fund

Resorve Liability of Pro-

prietors

.£8,000,000 .£4,000,000

.£3,000,000

Agencies and Branches:

ALOR STAR

KUCHING

AMBITHAN

MADRAS

BANGKOK

BATAVIA

BOMBAY

CALCUTTA

DANTON OAWNTORE CEDU

COLOMBO

KANILA

MEDAN

NEW YORK

PRMING (Kiing) PENANG

ΠΑΝΟΔΟΝ

HAIGON

НУМАПАНО

HAIPHONG

DAIBEN DELHI

HAMBURG

JANKOW

HABBIN

HONG KONG

ILOILO

IPOI

KARACHI

·KLAMU

KOBB

KUALA KANGSAR

BEREMDAN

HITANGHAI

INGAPORE HITIA WAN

BOUKADAYA

TAIPING TIENT SIX

THE

THE HO HONG BANK, LTD.

(Eatablished 1917.)

HEAD OFFICE:-SINGAPORE. Hong Kong Branch: 13, Queen's Rd. C.

Authorised Capital Straits $20,000,000 Issued Capital

8,000,000

Paid-up Capital ....

4,000,000

Reserve Liabilities

of Shareholders.

4,000,000

2,687,000

Surplus

Branches, Agencies and Correspon- dents in the principal citios of the world.

:

BANQUE DE L'INDO-CHINE.

HEAD OFFICE:

16, Boulevard Hansamann, Paris.

TOKTO

FONDKAH (Dhukah)

BRANCHES: Bangkok Hong Kong Quinhon Battambang Hue

TSINGTAO

TOKOHAMA

Cantho Mengtzo

KUALA LUMPRE

ZAMBOANGA

Capton . Nam Dinh

Foreign Exchange

and

General

Djibouti

NOMOR

Fort-Bayard

Papects

Saigon Shanghai Singapora Thanh

Tientsin

Haiphong

Feking

Tourne

Hapkow

Pnom Penh Vinh

Hanoi

Banking business transacted.

Current Accounts opened and Fir ed Deposita received for one year or shorter periods at rates which will

be quoted on application.

Manager.

J. STUART,

Hong Kong, 17th August, 1931.

NEDERLANDSCHE HANDEL MAATSCHAPPIJ, N.V.

(NETHERLANDE TRADING QUOIET?:

DANKEES.

Established it.

Keps Kong Off!—11, Quson's Rood Dantra).

Authorised Captial ......... Gulldans 150,000,000- (11,430,00)} Pald-Up Capital CoFiders 80,030,000 [6.68,173)

Head Ofoe-AMSTERDAM" Eastern Head Omeo:—BATAVIA. BRANCHES - Baxðjarmasin, Bandwag", Bombay,

Cainita, Charbon, Djember, Djof jskaria", The Bagus", Juddsb; Kobe, Kotsitadjo, Makassar, Medan, Padiog Pelambang. Pekalongan, P Portlanak Bangoon, Botterdazz",

Bungal Bamarang",

Bibale (Bumatra), Blogapore, BoursUni Bowrakarsa (tolo), Tegal, Tillajay and Weltevreden.

• T'as offiosa kare unfa dapòmiš boxes à lat, London Bankers-National Provincia! Bank Led.

-Correspondents all over the worl

Danking basiness of avery decription traninoted.

4. STOKKINK,

Ben Kong, 1015 August, 1990.

THE

Kanager.

AMERICAN EXPRESS COMPANY,

INC.

Head Office: 65, Broadway, New York.

THE BANK OF CHINA. 行銀國中

Capital

Reorganised October 28, 1928, under,

Surplus

special charter of The National Gov- ernment as an

Roberver

INTERNATIONAL EXCHANGE

BANK.

Babacribed Capital $25,000,000.00

Paid-Up Capital

Reserve Funds

$24,710,200.00

.U.S.30,000,000 .U.8.$1,672,454 .U.S.$1,008,209

BRANCHES:-

&cabertam

Antwor

Bala

Berlis

Biarri

Bombay

Br

Broய் Buanza kiz

Cairo

༥

Gene Glasgo

Kayaca Hamburg Harry Lulelaken Jerusalem Iddo London Ilverpool

Chlorit

Lugans Cach

Ixce Colombe

farmal·la Constantinopla Moots L'urla

Nice

Manila

Munich

...# 8,820,501.82

HEAD OFFICE: SHANGHAI.

HONG KONG BRANCH: 4. Queen's Road Central.

Owing to our numerous branches in China and large connections in the im- of the portant commercial centros

world, we are able to extend to our elianta special facilities for domestic and foreign banking and exchanges.

We also handle the lasus of Bonds and other Public Funds of the Chin- ano Government both at home abroad.

SHOU J. CHEN,

and

Manager.

Hong Kong, 5th March, 1981.

Naples Piz Paris Fenog Fekin Piscine Botterdam Bame Blatabou) Bhanghai Southampto Bingapore St. Morit Tentelo

Vienna

Yokohama Zurich

Copenhagen Edinburgh Florence

Moaires Gamers

Milan Branches of American Express Company in Principal cities of Unit ed States of America and Canada.

All claczus of Commercial Banking Transactions undertaken.

Personel Investment handled.

accounta

The Company offers to intending Travellers the ane of its "Travelers Cheques" and Letters of Credit and

THE YOKOHAMA SPECIE BANK, in addition, the world-wide services of its thoroughly equipped, Travel De- partment.

LIMITED.

Established 1880. Capital (fully paid-up) Yen 100,000,000 Reserve Fund

Yen 118,200,000

Head Office: YOKOHAMA,

Branches and Agencies at:

Alexandria

Batavis

Berlla

Bombay

Calcutta

Canton

Changchan

Dairen (Dalny)

Nagasaki Nagoya Newchwang New York Drake Paris

Fengtien (Mukdon) Rio de Jansiro

Hamburg

*Baskow

Marbia

Hong Kong Honolulu

Yen

Karachi

Kobe

San Francisco Seattle Semarang

Singapore

Sydney Tientsia

Boarabaya

London

Tokyo Los Angeles Manila

Taingtau Interent allowed on Gurrent As- counts,

Depoalta received for fired periods at rates to be obtained on application.

a. MOEL,

MAZINOT.

Hong Kong, lith Bleptocabat, 1931.

Afiliated with THE CHASE NATIONAL BANK Resources..Over G$2,500,000,000

E. W. DUGGAN,

Manager.

Pondichery Yunnanfo

BANKERS:

Interest allowed on Current Ae counts und Fixed Deposita according

50 arrangements.

Every description of Banking and Exchange Business transacted. Safe Deposit Boxes to let..

A. BONNAUD,

Hong Kong, 1st May, 1931,

CHINA

MAIL.

BUDGET DEBATE

Unofficials and Public Salaries.

AMENDMENT DEFEATED.

"Sacrifices Not Appreciated."

un

FRIDAY,

OCTOBER 23, 1931.

not know: everything must de-this difference should ever mater- pend upon the movement of ex-jialise, it should, we suggest, be change, but whatever the cost, utilised for financing some of the Colony cannot afford it, In the urgently needed public works spite of the ruthless, curtailment that have been postponed from of necessary public works, in year to year, such as a new Gov- spite of a considerable number ernment Civil Hospital, Infectious of the recommendations of the Disenses Hospital, and Lunatic Retrenchment Commission hay-Asylum.

eur-

The re- Buoy

ing, according to the Hon. Col- I should like to return for a onial Secretary, already been act-moment to the Retrenchment ed upon, the estimated expen-Commission. The unofficial The Budget for 1932 was fully debated at yesterday afternoon's diture for next year shows the members regret that the Com- Every description of Danking and meeting of the Legislative Council, when Unofficial Members ex-staggering increase of $4,193,- mission's report, together with Exchange business transacted.

haustively analysed the Estimates. Argument was principally con-806 over the approved estimates the comments of the Government TAN ENG HOOI,

for 1931, and of $2,829,161 over thereon, was not presented with Manager. centrated on the question of sterling salaries of the Civil Service. the revised estimates for the the draft Estimates, for these same year, without taking into two documents would have been The Hon Mr. C: Gordon 1932 as long as we were able on account the $1,000,000 for the of material assistance to them in Mackie moved an amendment to the present baeis to maintain the Naval Arsenal, to be financed out their scrutiny of the Estimates. reduce the salaries appropriation necessary standards of efficiency. of surplus balances. These fig- We ask that when the report is by effecting a ten per cent. re- The qualification which Your ures reveal a state of affairs published a statement may ac- duction in salaries, to balance Excellency deemed it necessary to which does not go to support the company it, showing the savings abandonment of the ex-add when expressing this pious Hon. Colonial Secretary's conten- that will be effected both in Subscribed Capital Fra. 72,000,000.00 the Paid-Up Capital ...Fr. 88,400,000.00 change compensation. This had hope left it open to Your Excel- tion that "we can afford to pay 1932 and ultimately.

A Pertinent Query. Reserve Funda.....Frz.102,000,000.00 the support of all Unofficials pre- lency to authorise, as you did these salarica."

Savings Unknown. sent at the meeting, but when shortly afterwards, the wholesale

Similarly the report of the the resolution was put to the revision of licences and fees and We are unable to ascertain from Clegg Mission which

came out vote in Committee it was lost, the imposition of new taxes the draft Estimates the total here at the instance of the Secre- in personal tary of State to enquire into our by 9 votes to 7. The Estimates which have become almost a amount of savings were then passed as originally weekly feature in recent months. jemoluments that have been currency would, if available to presented.

We, however, realise that, in or-effected by the adoption of the the public at this moment, have His Excellency the Governor, der to enable the Government to Retrenchment Commission's re- considerably assisted us in our in his speech, pleaded that Civil balance the Budget, fresh im-commendations, but it is con- consideration of the Budget, In-

that such Servants had made sufficient posts in one form or another were ceivable

savings asmuch as the finances of the more than

counter-i Colony are sound up with the IN FRANCE: Comptoir Natlocat sacrifices, which, he was afraid, inevitable, and we consider that, would be d'Escompte de Paris; Credit Lyonnais; were not appreciated. Govern- on the whole, the form adopted balanced by the increase entail-problem of exchange and Banque de Paris et dos Pays-Bas ment's replies to Unofficial criti- by the Government was bettered by the conversion of sterling rency. Will Your Excellency in- Gredit Industriel et Commerelal; So-cisms, as made by His Excel- than a further increase in As-salaries at current rate of ex-form the Council why this report Mate Generale.

change. This being the case, has not been published, and when IN LONDON: The National Provin. [lency and the Colonial Secretary, sessed Taxes. cias & Union Bank of England, Ltd.; were generally sympathetic on Belting Tax Approved. the retrenchments so far effect-it will be published? Comptoir National d'Escompte dejother points raised, but the plea We also agree in principle toed would be rendered nugatory. I will now proceed to comment Fare: Credit Lyonnais.

was put forward that present the proposal to levy a Betting It would also mean dispensing on a few individual items in the IN NEW YORK: J. P. Morgan financial conditions prevented Tax, but it appears to us that with the services of a large num- estimates of Revenue. Co., French American Banking Cor poration; Guaranty Trust Co. of Now much development work. It was the estimated yield of $250,000 ber of less well paid men in order, ceipts from Light Dues, York,

mentioned, however, that the has been based on a too optimis further to improve the lot of Ducs, and Fees for the Engage- new Government Civil Hospital tic expectation.

sterling-paid officers who are by ment and Discharge of Seamen, will be built on a site in -Pokfu- While we are not opposed to no means niggardly treated. show decreases, the reason given iam Road, and the new Infectious an increase to the Petrol tax, it The estimated total expendi- in the footnotes being that Diseases Hospita

Green might be pointed

next year, excluding these items were over-estimated out that in ture for Island.

these days of rapid transporta-Military Contribution and Public in 1931. In view of the import- The Budget was sponsored by tion, and the gradual spread of Works Extraordinary, is $25,-ance of shipping to the Colony, it the Hon. Colonial Secretary and the population from town to. sub-441,549, of which $13,809,382 or would be interesting to know Manager the Colonial Treasurer, who re-urban districts, petrol is a neces-51.28 per cent. is for personal whether the figures estimated for spectively proposed and seconded sity rather than a luxury. This emoluments. It is true that 1931 were based on the expecta- the second and third readings of is true not only in regard to these high figures are due to the tion that more vessels would the Bill to apply a sum not ex-those who live at some distance Budget being framed on a shill-touch this port in the year than

the less, they has actually been the case. eceding $26,641,787 to the Public from town, but also to those who ing dollar; none

what- Service of the year 1932." have to do much travelling by are phenomenally high,

The unofficial members note satisfaction that the Unofficial opinions, given on motor-car in the course of their ever the cause, and it behoves with

It might be pointed us to exercise the strictest eco- revenue of the Kowloon-Canton the motion for the second rend- business. ling of the Bill, were as under: out that In many countries in nomy especially when the Col-Railway is expected to yield an which this tax is levied, the re-lony is undergoing to quote increase of $151,450 which is a Undivided Profits.U.S.$226,087,392 Hon. Sir Shou-son Chow.ceipts derived therefrom

arejonce

more the Hon. Colonial healthy sign that the receipts of employed for the maintenance of Secretary "considerable finan- the British section of this line

are steadily increasing. The Hon. Sir Shouson Chow roads, whereas in Hong Kong cial perturbation."

In view of the facts I have the Government, simultaneously

Views on Expenditure. said:-

Turning now to Expenditure, I The duty of presenting the with imposing the tax, decided mentioned, and in view also of joint views of the unofficial to

reduce the votes for the the salary cuts that have been will deal with certain items in members of this Council on the maintenance of roads and bridges authorised in Great Britain and the order in which they appear Budget again devolves on me in the City from $100,000 to in colonies such as Ceylon and in the draft Estimates.

In regard to the Head "Cadet this year. In discharging this $80,000, and outside the City Singapore, we are of the opinion

but fair that Service," we are of the opinion duty I should like, at the outset, from $120,000 to $80,000. This that it would be to tender to Your Excellency our is a step which, in the words of some reduction should be made that during the last four or five more Cadets have been Commercial and Travellers' Letters Congratulations upon your ability the Hon. Colonial Secretary him in the salaries of sterling-paid years of Credit, Travellers Cheques, Bills to produce a balanced Budget-a self. will mean a lowering of officers in the Civil Service of brought out than were actually required by the needs of the of Exchange and Cable Transfers Budget which is undoubtedly one the high standard at which the Hong Kong.

The honourable member

re-Service, having due regard to bought and sold. Current accounts of the most difficult that a Gov- Colony's roads have hitherto

presenting the Hong Kong Gen- the fact that modern administra- and Savings Bank accounts opanedi

eral Chamber of Commerce will tion tends more and more to re- and Fixed Deposits in local and for ernor of this Colony has been been maintained."

at rates that culled upon to prepare.

Economy v. Efficiency. sign currencies taken

move an amendment to give quire the employment of special- may be ascertained on application to

The financial position of the What has been the prime cause the Bank.

Colony for both 1931 and 1932 of such economy exercised at the effect to our proposal which we ists on special work. We trust think is as reasonable as it is that the two posts that have re- We are also able to offer our Cua has been shown with admirable expense of efficiency? The annecessary in the financial cir-cently become vacant will not be tomers the services of the Branches clearness in the Hon. Colonial swer is the enormous cost of ad- of the International Banking Corpora-

cumstance of the Colony.

illed for some years to coque.. Mercantile Houses, tion in San Francisco and Spain and Secretary's speech and in the ministration that has been occa-

There is a reduction of five Memoran- sioned by the general increase of also of The National City Bank of IIon.

The Hon. Colonial Secretary, stenographers in the Senior New York (France), B.A., in Parit dum. The memorandum is salaries sanctioned by the Gov

"com- Clerical and Accounting Staff. very comprehensive and is ernment in this Council a year when referring to the

most illuminating docu- ago when the financial condition promise," said that "the Govern- We think that a greater reduc Manager, the

ment of its kind that has been of the Colony was just beginning ment does not consider it fair tion can be made in this direction that one section only of the com-by substituting local men for presented with the annual draft to take a Estimates. Though it has no The public was therefore amazmunity should bear such a dis-sterling-paid stenographers.

We approve of the provision direct bearing on the Budget, ed to hear that in spite of the proportionate share of the bur the Annual Report of the Audi- present state of affairs, the Secre- den of balancing the Budget." of $24,000 for the purchase of tor for the year 1930 deserves a tary of State for the Coloniese also said that the example set two accounting machines which, by Government has not been gen. according to the explanatory word of commendation for the had directed that sterling salaries erally followed by the business footnote, will result in the sev sound views it expresses and should, as from January 1 next, firms of the Colony; that though ing of six clerks. It is hoped the independent spirit it reveals, be converted at the current rate certain mercantile houses have that this saving will be a real which is in keeping with the of exchange, with the proviso found it necessary to reduce saving by the actual abolition of best traditions of the Audit Ser- that for the present payment salaries they are not firms which the six posts instead of by trans- vice of the Crown.

should not be made at more than should be taken as a barometer ferring them to other Depart

for the adjustment of Governments, and so leaving the total ment salaries; and that other number of clerical posts un- The unofficial members protest large business firms, so far as diminished.

THE NATIONAL CITY BANK OF NEW YORK.

HEAD OFFICE: 65, Wall Street, New York.

Capital, Surplus and

CHILE

CHINA

Branches In-

ARGENTINE LONDON

BELGIUM

MEXICO

BRAZIL

PANAMA

PERU

COLOMBIA GUBA

DOMINICAN

REPUBLIC

INDIA ITALY JAPAN

and Nice.

PHILIPPINE ISLANDS PORTO RICO STRAITS

SETTLEMENTS URUGUAY VENEZUELA

F. McD. COURTNEY,

Hong Kong, June 10, 1981.

THE BANK OF TAIWAN, LTD.

(TAIWAN GINKO.)

HEAD OFFICE:-Talpeh, Farmona.

Incorporated by Special Imperial Charter, 1899.

Central Bank in Formors. Bank Notes and Average amount Ian, 4,000,000 BRANCHES AND 'AGENCIES: JAPAN :—Tokyo, Yokohama, Kobe, Osaka, PORNDIA 1-Ulina, Kagi, Kasko, Keriang,

Makong Nanto, Shinchiku, Taleka, Tafan Takso, Tamsul, Town, Eletto, Taito.

Buaine, Canton,

Treasurer's

Effect of Stinting. The public must congratulate itself upon the fact that instead OHINA-bangbai, Hackow, Amcy, Fooclaw, of a deficit of $2,250,000 at the OTHERS Hangong, Bogapore Scarabera. end of the year as anticipated when the Estimates for 1981

Catella

turn for the worse.

$20 to the pound sterling.

Previous Compromise.

in most emphatic terms against the Government is aware, have We have noted with interest this decision. It will be within not found it necessary to curtail that a small Committee has re- the recollection of all that dur- to any appreciable extent the dol-cently been set up to enquire The London County Winter and Pur's Bakwere framed, there is expected ing the debate on the Budget lar equivalent of their sterling into the adequacy and use of Gov-

Hamarang, Batara Bombay London, New York, Daliwa.

LONDON BANKERB:

The Back has Cornepoodinis in all the wincipal

Commercial Centrem skroughout the world.

1. MAGURA.

HONG KONG BRANOH :

3. Das Your Road Cantesi. Hong Kong. 1 January, 1999.

THE BANK

OF EAST

Established 1918. --. HEAD OFFICE:

Manngar.

[

ASIA, LTD.

10, Des Voeux Road, Central. HONG KONG.

Capital and Surplus Total Resources

over H.$ 8,000,000.00 over H.880,000,000,00

Every description of Banking and Exchange business transacted.

Current and Fixed Deposit Accounts in local and for- eign currencies opened for clients, path, Savings Account and Safe Deposit Boxes, Branches and Agencies all over the world.

KAN TONG PO,

Chief Manager.

last year Your Excellency agreed salaries.

ernment launches, and we hope to be a surplus of about $50,000, but it regrets that this position to the "compromise" suggested We do not admit the fairness that the provisions made in the has been achieved only by stint by the Hon. Mr. Paul Lauder of of the first contention for the Estimates for new expenditure ing the Colony of very necessary paying half the salary of sterl-reason as I have stated, that the connected with the subject under public works, and by a seemingly ing-paid officers at the rate of compromise was merely an equit-investigation will not be imple- unending series of fresh taxes 1/6d. to the dollar, and in so do-able readjustment. Nor can we mented until the Committes has which have hardly left, a single ing you said that the abnormal leave unchallenged his state-made its recommendations. item of licences and fees un rate of exchange was "perhaps ment concerning business houses, The unofficials cannot under- unduly favourable to the sterl-which, the Hon. Mr. C. G. Mackie stand why coal and oil fuel for touched.

The Colony's taxable capacitying-pald officers." The compro will adduce facts in refutation. launches in the Ifarbour Depart has now reached a point where mise was therefore in the na-

Duty to Public,

ment should show the consider- any additional imposts will as- ture of an equitable readjust- The unofficials are sorry that able increase. of $62,870, while suredly have adverse effects on ment, if not an amende honorable they have to move for a reduce the vote for coal in the Railway trade and the economic life of the after the Government had forc- tion in the salaries of the sterl Department remains unchanged. community. In this connectioned its salary scheme through the ing-paid officers, but they feel We can ascribe portion of the I would draw Your Excellency's Legislative Council by means of that they would be failing in their increase in the Harbour Depart- attention to the speeches of the the official vote.

duty to the public which they ment's vote to a rise in the price.

Hon. Mr. Shenton and the, Hon. Now, the Secretary of State represent, if they were to allow of oil fuel, but that still leaves Dr. Kotowall relative to the sub- has given his decision contrary this further increase to person-the unchanged state of the Rail- ject when the supplementary to Your Excellency's advice, and at emoluments by the abandon-way vote to be answered. Appropriation Bill for 1980 was we fear that any protest from ment of the "compromise" with-

A Good Point. before this Council in July last: us would be futile. But the de-out proposing some measure tof Under "Special Expenditure" and also to Your Excellency's an- cision' amounts to a reversion to offset the increase.

in the Estimates of the Harbour. Jawer thereto that you echoed the what Your Excellency has ad- It is calculated that the differ-Department, is the provision of hopes of our honourable friends mitted to be an unduly favour-ence between the Estimates 86,400 for training expenses for that it would not be necessary able condition; it means addition framed on a 1/- dollar and those one Government Marine Surveyor further to increase taxation in al expenditure. What it will as on a 1/8 dollar, is about $1,500, In England. The system of train- connection with the Budget for tually cost to the Colony we do 000. If the sum represented by (Continued of Page 5.) v