93
I consider the present Estimates in detail – as to Revenue, Sir Arthur Kennedy is confident as to its healthy & prosperous condition, I do not altogether share this opinion: the actual Returns for 1871 shew a slight decrease over those of 1870 under the 14 heads in the abstract which are the main & legitimate sources of Revenue; these same heads are expected to realize $3,434,000 in 1873, actually received in 1871, $3,431,000 and in 1872, $3,410,000.
I can only suppose that the very favorable returns for the 4 or 5 months of 1873 have been the basis of the present Estimates.
Two important taxes are certainly progressive; the opium monopoly, which is expected to yield $122,000 or an increase of $9,000, & the spirit tax which shews an expected rise of $15,000 : there has also lately been a sudden impetus in the passenger traffic, which is expected to yield in full $6,500 : but against these there are several important decreases.
About $4,000 - owing to reduction of Rent to prevent landholders kroning up their purchases; $1,000 under the licenses for 5 different trades. $400 under Police Assessment, which is a House Rate, and this decrease is said in the 4th Enclosure to be due to a reduction in the value of House property occupied by Europeans in the city; these are not altogether healthy signs.
In the more casual sources, Sir S. Kennedy explains that he will not receive $5,000, the last instalment for the sale of the mint having been repaid; & that the aid from the special fund will be reduced from $50,000 to $20,000, which he reckons will be the amount of the interest of late fund available for Police Purposes. With reference to both these points I think it will be as well to explain definitely that there can only be credited to General Revenue that part of the interest of the special fund, which is over after the special expenditure (defrayed from it) is provided & which is not to be entered at all in the Colonial Public accounts; these have been slightly alluded to lately by Lord Kimberley and reckon that the balance of interest will not amount to more than $15,000.
On the whole the Revenue shews a decrease of $6,000, as compared with 1872.
MINUTE PAPER.
93
I consider the preemt Estimalts in Retail. Astril – as to Revenue, Sir Arthur Kennedy is confine is to its healthy & propensive condition, I do not allogether Share this opinion: the actual Returns for 1871 t
shew a slight decrease over thire of
1870 under the 145
145 7 headsugs in the abstrat which are the main & Digitimate sources
of Revenue; these same heads are
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the auct
1873 to realize $34,000 actually received 1971, 4831000 in than betonated for 187%
I can only suppon these fore that the actant-
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1894
returns for the 45 for & mouths of 18% wie very favorable, have the basis of the preaming- Ketunates
Two important taxes are certainly prossistive; the opinem monopoly, which is expected to yield $122,000 or an nierase of # 9000, & the ith up taxe which shews Mr. ixpected side of $15000 : 4 there has also lately bea
a sudire.. i.petus bithe haipation traffic, which is expected to yield in fels
Additonl
$6500 : but against there there are stebral important.
#.e not so condiderable decreases Land
Alomat $4000-
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$4000 - owing to reduction of Rend to prevent beacholder kroning up their purchase; $bore unter the licenses for 5 different trades. $4.00 unde Police Assessment, which is a House Hate,
MINUTE PAPER.
and this decrease is said in the 4th Enclosure to be due to a rechuction in
then value of House properly occupied by Carspions in the city" ; theet are not altogether
healthy signs,
of Revenue
In the more casual sources. Sir S. Kennedy explains that he will not
receive $5000, the best instalment for the lake.
of the mint having been repaid; & that the aid from the special fund will be reduced from $50000 to $20,000, which he recting, will be the amount of the interest oflate fund available for Police Purposes, with reference bothes point I think it will be as well to suplain definitely that there cronly t be credited to General Revenue that part of the betont of the special fund, which i over after the special expenditure (defrague from it is provided & which is not to be entered at all in the Colonial Public accounts; these have ten slightly welded to lately by Lord Kimberley 4dreckon that the balance of interest will not amount to more than $15000.
нас
(Jamain's)
Latter
On the whole the shine theos a decotand 6000, as compared with 1872
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