338
Aug
I remember, as for them, against Keeping separate accounts of the receipts and expenditure of sand other Urina Hand, verified by writing by J.H, about expenditure is familiar with this them the current revenue and expenditure of the Colony. In Ceylon, for example, the expenditure of the Debenture loans and the Ordinary expenditure of the Colony, which, of course, however, includes the Interest & Sinking Fund thereon, are kept entirely separate from each other.
I think that, whatever course may be followed in regard to the expenditure of the accumulated cash balance in Hong Kong, the receipt & expenditure of sums for the "Special Fund", which are to be repaid by an annual sinking fund, should be recorded. The receipt and expenditure of a Debenture Loan would be an example.
I would like to inform Sir J. Hummery in writing about something of the above remarks. I have on 16th August pointed out the defect in the course followed by Sir H. Hummery, viz. that part of the Praya expenditure (equal to a year's interest) is included twice over in the expenditure return, once in the actual outlay and again in the allocation to the sinking fund for the loan.
This leads naturally to the consideration of the Assets & Liabilities return in 1870, on which is included the balance remaining unpaid of the loan from the "Special Fund" for lighthouse construction and the Praya works. In 1872, Straits I expressed an opinion that the most useful form of a return of the Assets and Liabilities of a Colony was that which...
338
Aug
them,
as for
against Keeping separate accounts of
I remember, framand
the receipts
AL
expenditure of sand other
Urina Hand, verified bef writing b J.H, about
expenditure
is famili with thi
them the current revenue a
of the Colony. In leylon, for example,
expenditure of the Debenture
ift a
loavs
the Ordinary
www a
kept cutire separate from
expenditure of
the Jolony, which, of course, however, winchendes the Interest & Sinking Fund
thereon.
I think that, whatever course
may be followed in regard to the expenditure
of the accumulated cash balance in Hong
Kong, the receipt & expenditure of suns
pour the "Special Fund", which
h
an to be repaid by an annual riiking
fund, should be mealid The receipt.
expenditure of a Debenture Loan would
is. I would to inform Sis J. Hummery
writing cinta something
of the slove kmarks.
in the seas
I have on 16887
pointed out the defect the
course followed by Sif. Hemmery, wig!
that part of the Ponga expenditure (equal
year) is included
to the linking fund for the
twice over in the expenditure return.
this leads naturall to the
consideration of the Avants & hicabititans
return in 17070, on
the latter riche op
which is wichuded the balance remaining nepaid of the loan pom
An "Special Fund"
for highthouse construction and the Praga
the
x
works In
316
16712 Straits I expressed an
view that the
and
+ the ouf Macticable
useful form of the a return of the Assets
ahiabilition of a Colony
was that whe
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