CO129-168 - Sir Kennedy - 1874 [9-12] — Page 287

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FINANCIAL STATEMENT, 1874. -

14018

24

284

0.0.

16 DE

HONGKONG:

PRINTED BY NORONHA & SONS, Government Printers,

1874.

GENTLEMEN,

The Estimates for 1875 were in the hands of the printers when the Colony was visited by the late disastrous Typhoon. The losses then sustained were-so- iminediately evident, and the damages done to Buildings and Works, both Public and Private, so apparent, that there could be no doubt of the inability of the Colony either to provide the estimated reveune, or to meet the proposed outlay for further works, simultaneously with the heavy and unexpected charges thrown upon it by the Typhoon. The original Estimates were consequently withdrawn, and it was only during the past week that the Reports of the Surveyor General were submitted in a form sufficiently accurate to enable the Government to decide what changes should be made.

In the Estimates now laid by me on the table, allowance has been made as well for the falling off of Revenue consequent on the dullness of Trade, as for the des- truction of property, both ashore and afloat, caused by the Typhoon. A decrease of $31,811 has been allowed for the Revenue of 1874, and a difference of $12,408 has been made in the estimated Revenue of 1875, as compared with that actually received in 1873.

I have no doubt, therefore, that the estimates made of your Revenue and Resources will prove accurate and safe, and it will be for you to consider and approve the expenditure proposed within such limits, or to suggest such changes as inay, in your opinion, be needed.

Your Resources for 1875 are estimated at $908,840, and the charges proposed to be laid thereon, inclusive of $50,000 for Typhoon damages, amount to $869,347.60. This will not leave any large surplus, but nevertheless it should and will, I trost, amply suffice for any moderate and unforeseen contingencies which may arise.

The charges for the Departments already existing vary little from those of former years, but with $6,428 added for Light Houses, and the increased provision required for the Puisne Judge's salary and that of the Assistant Surveyor, the entire cost of the Establishments will be $566,027.60 in 1875, as against $558,039.60 in 1874. I do not see how any material changes could be made without impairing the efficiency of the service.

In reference to Works and Buildings, the outlay for which is estimated at $104,000, you will perceive that one half must of necessity be absorbed by Typhoon repairs. This sadly cripples our resources for other Works of importance, espe- cially the new Hospital and the Central School, the former of which is all the more urgently called for by the destruction of the old building by the Typhoon.

I trust that, with a view to the early completion of those two undertakings, we shall be able to make arrangements whereby the cost may be spread over some

years.

For Roads, Streets and Bridges, the sum of $37,220 is put down, including the item of $10,000 for the City sewerage, the necessity of which will not, I appre- hend, be questioned.

It would be very desirable if this work could also be at once completed without any heavy strain on the annual resources of the Colony.

year 1875 before With these brief explanations, I lay the estimates for the you, together with the Ordinance by which it is proposed to give legal effect to them, and have only further to add that, as suggested by the Earl of Carnarvon's Despatch of the 6th of March, 1874, I am quite prepared at once to appoint a Sub-Committee to consider and report upon the former.

J. GARDINER AUSTIN,

Administrator.

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