CO129-131 - Sir MacDonnell - 1868 [6-7] — Page 74

Sola sitenin

·HONGKONG, /54 MAY, 1888.

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SUPPLEMENTARY ESTIMATES.

The GOVERNOR then introduced the Supple- mentary Estimates Ordinance, and said The Estimated Revenue and Expenditure of the Colony for 1867, was-Revenue, $990,320; Ex- penditure, $997,305.60. The actual Revenue and Expenditure-including, for the purpose of comparison, the receipts and payments on ac- count of the Imperial Post-Office bas been, Revenue, $968,519; Expenditure, $835,032. The Revenue, however, appears more pro- ductive than it really should do, because a con- siderable portion, viz.: 866,300 is due to a sle of land, which belongs more to capital than Revenue, and because a better system of collec tion of Taxes enabled nearly all the rates due for the year to be collected during the year, and consequently left fewer arrears out- standing at the end. The Stamp Ordin- ance having been in operation puly a few! months during 1867, produced only $28.252. but the monthly collections shew that the receipts to be expected from the Schedule than in force would produce in a year about the amount estimated, viz.: $110,000. The re- ceipts from the Junk and Registration Ordi- nañce have more than doubled what was expected. The Expenditure shows a decrease of about $160,000, but of this $94.000 is caused by the non-payment of the Military Contribution, which forms a debt still due by the Colony, and the remainder is principally attributable to the postponement of important Public Works, more especially the Reservoir at Pokefulum, the re- clamation of ground at Bowrington, and the paving of streets in Taipinshan. There is also a considerably diminished charge for gaols. The nominal excess of Assete over Liabilities, at the end of 1867, was something over $25,000, 1 or about that which was anticipated last August, when the Estimates for the current year were in course of preparation. The Supplemen- tary Estimates now submitted, amounting to nearly $135,000, are not for any addi- Itional expenditure, but are merely brought forward to gover certain alterations which were found necessary in the appropriation of the ex- penditure. The $135,000 now asked for, there- fore forms a portion of the $835,000 of Expendi iture above shewn, the actual expenditure in accordance with the Original Estimates having been only about $700,000. The detailed Estima- tes to be sent round to members indicate exactly the services upon which the different appro- priations have been made. A considerable sum is shewn as expended under the head of Police, the larger portion of which is connected with the raising and equipment of the Sikh force. In Public Works most of the alterations con- sist of small items which could not well be foreseen a year in advance, and of payments not estimated-because it had been anticipated that the works in respect of which the payments took place would have been completed in the previous year. The greater part of the sums required for Roads, Streets, and Bridges are on account of Kowloon--the Government having been obliged to resume many of the lots sold. In Special Expenses there was a saving of most of the expenditure connected with a Colonial Gun Vessel, but the purchase and fitting of a Gunpowder Depot and a Floating Police Station, and sundry other small ex- 'penses, have about exhausted the saving thus effected. The Ordinance was read a first time.

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