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Report on the Accounts of Receipts and Expenditure for the Year 1884.
RECEIPTS.
10630
RECP
REG 16 JUN
1. In a report made by me on 10th November last, I estimated that the Revenue for the year 1884, which had been originally calculated at $1,213,598, would not exceed $1,151,000.
The accounts for that year have now been closed and the Revenue actually received proves to have been $1,173,071 or $22,071 in excess of my revised Estimate. Besides this amount the sum of $19,695 has been collected for premia on sales of land.
2. The items which exhibit the most considerable falling off, as compared with the original Esti- mates, are the following:-
1. Licences,
2. Stamps,
3. Interest.
---
.$126,174 less than estimated.
13,607 };
3,037 2,460
11
**
11
**
11
4. Storage of Gunpowder,
On the other hand, excesses over the original Estimates will be seen in a number of items, the most important of which, are :--
5. Miscellaneous receipts,
6. Rents of Land,
7. Municipal Rates,
8. Postage,
9. Fines,
10. Spirit Licences,
נ$
.$ 37,972 more than estimated.
16,137
14,389
多多
12,352
22
7,275
45
**
3,812 ";
*
f
11. Fees,
2,392 17
15
3. The principal falling off in the Revenue of 1884 has been under the head of Opium Licences (No. 1), owing mainly to the San Francisco market for this drug having been largely overstocked during the year 1883, in anticipation of a considerable increase in the Import duty which the Govern- ment of California bad announced its intention of imposing. The restrictions imposed on the immigra- tion of Chinese by the Governments of the United States and of the Australian Provinces have also, to some extent, affected the demand for Opium. Macao has also competed with Hongkong in the supply of prepared Opium for exportation.
4. The next item of importance on the list of Receipts which have fallen short of Estimates is Stamps (No. 2). The serious interruption of business caused by the prolonged hostilities between France and China accounts for the reductions shewn under this head. Light Dues and Junk Licences also shew a falling off, though they have not been affected to the same extent. The withdrawal of part of the accumulated balances which are being employed on important Public Works, now in progress, explains the smaller amount received for interest (No. 3); and the falling off on receipts for Storage of Gunpowder (No. 4) is owing to the imports of that article having been allowed to remain for a com- paratively short time in the Stores.
5. A considerable portion of the excess shewn under the head of Miscellaneous Receipts (No. 5) has been derived from profit on subsidiary coins, for which a constant demand exists, owing to the large quantity that is taken away from the Colony into the neighbouring Chinese provinces. The remaining portion of the excess results from the new contract for removal of excretal matter which had not been entered into when the Estimates were framed.
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