157
for we pay more for what we get from the market.
The COLONIAL SECRETARY - It is in any case a fair indication of the condition of a large section of the community. To take another item, Rent of leased lands shows an increase of 29 per cent., the figures being $140,457 for 1882 and for 1891 $190,158. But which, sir, of all the items that compose our revenue supplies the most trustworthy answer to the question whether the colony as a whole is progressing or not? Unquestionably...
...rates and taxes.
And what, sir, does that item show? It shows an increase in 1891 over 1882 of more than 90 per cent., the figures being for 1882 $252,937, for 1886 $336,133, for 1889 $374,857, for 1890 $414,092, and for 1891 $464,242. These, sir, are very eloquent figures. They speak for themselves and require no comment. Rates were increased on July 1st, 1890, from 12 per cent. per annum to 13 per cent in Victoria. The increases in the other divisions, of the Peak District and the village, are not worth considering as more than five-sixths of the whole rateable property in the colony lies within the limits of Victoria. It would be interesting to know how many towns there are in the British Empire in which, with a trifling addition to the rates as one-twelfth of the revenue derived from the assessment of rateable property has in the last years increased by over 90 per cent.
The references to the failure of the New Oriental Bank Corporation and the collapse of the Chartered Mercantile Bank are quite irrelevant unless it be intended to imply that these are attributable, to some material extent at all events, to losses incurred in Hong Kong by those institutions. In view of the fact that the circumstances which led to the downfall of the New Oriental Bank Corporation and
157
for we pay more for what we get from the
market.
The COLONIAL SECRETARY-Itisi any case a fair indication of the condition of a large section of the community. To take another item, Rent of leased lands shows an iuerenso of 29 per cent. the figures being $140,457 for 1882 and for 1891 $190,158. But which, sir, of all the items that compose our revenue supplies the most trust- worthy answer to the question whether the colony as a whole ogressing or not? Ua. questionably..
of card rates and
taxes.
And what. sir, does that itëm shev ? It shows an increase in 1891 over 1882 of more than 90 per caut.. the figures being for 1882 $252,937, for 18 6 33 6,13, for 1889 $374,857, for 1890 Sá14,092, and for 1891 $464,242. Theso, sir, are very loquent figures. They speak for them- selves and require no comment. Rates were increased on July 1st, 1895, from 12 per cent. per anuom to 13 per cent in Vieto ia. The increases in the other divisions, of the Peak District and the village, are not worth con-idering as more they five-sixths Falu of the whole rateable property in the colony lies within the limits of Victoria. It would be intersting to know how many towns there or in the British Empire in which, with tifting an addition to the rates as ue-twelfth
rerenuo derived from the assessment of rateable property has in the feti years increased by over 80 per cent.j
So
The references
The references to the failure
of the New Oriental Bank. Corporation and the collaps.
se
of the Chartered Mercantile -
Bank are.
quite irrelevant
unless it be intended to
imply
that these are
attributable, to some material
extent at all events, to losses
incurred in
HongKong by
by those institutions . In view of the fact that the circumstances which led to the downfall of the New Oriental Bank Corporation
and
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