175
!
three times the revenue of 1863. In my despatch of 20th January 1870 the charge of £40,000 was estimated to amount to 17 per cent of the revenue of 1868, but owing to the subsequent growth of the revenue, and the appreciation in the value of silver, the charge now only represents about 11½ per cent of revenue as against 16¼ per cent when (I have taken the dollar at 3/4 in this calculation) the contribution of 1863 was fixed.
6. Under these circumstances Her Majesty's Government do not consider that any grounds exist for delaying the payment of the full contribution of £40,000.
7. I take this opportunity of informing you that it is proposed to raise the Indian Battalion for service at Hong Kong from!
1267187 April
175
!
three times the revenue of 1863. In
my desputat
of 20th January 1870
the
charge of £ 40,000
was estimated to
amount to
17 her cent
of the revenue of 1858, but
Owing
to the sub-
=requent growth of
the revenue.
and the
appreciation in the
value of silver, the
charge
now
only
about.
represents 111⁄2 per
cent
of revenue
we as
against 16'r per cent
when
(I have taken the
dollar at 3/4 imm
this calculations
:
]
when the contribution
of 7863
13 was
fixed.
6. Under these
circumetances Ster
Majesty's Sovernment
do not consider
that any grounds exist for delaying:
the payment of the full contribution of. £40,000.
7. I take this opportunit
I informing zu
dess.
no
that
to
raise
1267187 April
it is proposed
the Indian Battalion
for service at Hong Key
from!
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