More or less balance one against another; the Excess of 1895 over 1894 is really accounted for by the vote of $80,000 for Exchange Compensation.
This vote will not all be required if we do not concede to Hong Kong the same terms that have now been conceded to Ceylon & the Straits, viz., that the officers may receive the compensation without having the rate of exchange for leave salary reduced to 1s. 3d. On the whole, in view of these favorable signs of expanding revenues, I think that the concession may now safely be made, if it is coupled with the distinct condition (as has been made in the case of Ceylon & Straits) that this Exchange Compensation is subject to the annual vote of the Legislature.
Even if voted, I think we should add that even if the vote is passed, the Secretary of State would consider the question of disallowing it in whole or in part in the year in which the extraordinary expenditure was not fully met by the ordinary revenue.
On the present Estimates, there is only a very small surplus shown of $3,325, and we are on the verge of asking for a Supplementary vote of $50,000 for construction of new Barracks. This ought not, I think, to cause a reduction of excess, as stated below, because we hope to get a contribution of $45,000 from Military.
The new Barracks are to be spread over 10 years, and we hope we can meet the charge out of annual Revenue, without having recourse to a Loan. We ought to impress on the Hong Kong Government the desirability of having a fair margin of Revenue, say $100,000 a year for new Public Works, as new Works of one sort or another are sure to be wanted for some years to come. The debt of the Colony ought not to be increased, if it can be avoided, except for remunerative Public Works.
Besides some reduction in Military Contribution, there will be during 1895 some retrenchment (about $15,000) from the abolition of one of the Inspectors of Police; still more reductions will be made in future years. From immediate reductions made, we do not get much, but we know there will be some expenditure chargeable to balances & not to current revenue – viz., the cost of resumption of Tai Hung Shan.
Page 363
...
Page 363
Jore or
less balance one
z
another;
I the Excess of 1895
1894 is really accounted for by the vote of
for Exchange Compensation $80,
000
This vote will not all be required if we do not concede to the Hangkan the same terms that have officers now been conceded to Ceylon & the Straits babies]
viz.
that the officers may receive the compensation without having the rate of exchaye for leave salary reduced to 31. von On the whole, in view of thin favorable signs of expansiven Hungting revenues, I think that
now safely be made, if it is compled with the distinct condition (as has
Mis concession
дназ
been made in the case
in the
Ceglen
»
Even if voted
this Leg. Corment
& Straits) that this exchange Compensation is subject to the annual vote of the fornail,
should add) that even and (I think we
the vote, the I. of State would consider the
disallowing question of
hart inn
sin whole or
gear in which the admary expendition was not fully met by the ordinary
revenne.
On the present Estimates, there is only a very small surplus shown of $3,325, and we are on the
X
The Shait
for some
years spent $1,000,000; but at H Kong They
are Hiis
gear only chang $30,
for st
Works to Revenue
In Registrar General
pomit of asking for a Supplementary vote of $50,000
for constructio
Barracks. This ought not I think
to cause an stated below,
reductio
f
excess,
Cutribution.
because 525
we hope to get a $45,000
G
Military
The new Barracks
are to be spread over 10 years,
و کروم
hope we can meet the charge out of annual Revenue, without
hairing
recourse to
ought to impress
A
Loan.
We
on the Hangtung
for? the desiatilis of having a fair
margin of Revenue, say /$8100,
a year for
new
Works of.
new Public Works,
A
one sort or another
are sure to be wanted for some
to come, Zears
Vitizierto
dage all and the debt of the Colony ought not to be increased, if it can be avoided, for that except for remunerative Public Works. Besides some reduction in
Jossible
A
Military Contribution, there will. be during 1895 some retrenchment
or more), and & one of his Inspector (about $$$15,000 have been abolished still more in future gears;
Frome minediate
eductions made.
the Police Dip?
we do not get
There
knows
Pappition of
but
how much.
expenditure
which show have been pat
these Estimates - although it in
A
thargeable to balances & not &.
current revenné –
viz.
In cost
of resumption of Taisungshan,
a1
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