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The finances of the territory are distinct from those of Hong Kong, and, as far as can be judged, the sums available are not sufficient to be self-supporting. The reason why it is not self-supporting is that the collection of revenue will necessarily take some time, especially at the commencement of British rule, and until the Eastern Harbour is established, it will be necessary to have funds sufficient to meet current expenses and to cover initial outlays. Buildings for public offices, for open spaces, for a port, as well as land settlement and representative roads will have to be provided and always improved.
To meet this expenditure, I recommend that recourse be had to the bank. The Government of the territory should be empowered to borrow up to a maximum amount and to arrange with a local bank for an overdraft, so that it can draw advances, not exceeding the amount it has been authorised to borrow, from time to time as required.
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Loan.
as
65
147
The Imances The territory St. I Repel distinct from have of Hay they and, To far as can ti fudged, thus sums to the to reason why it It? not to self support. wy as soon as it has been taken ww. But the collection
3
the tunnel Keranê
will accessarily take some time, expecially at the commencement
ment of Butish uile,
of
and aften before that will Eastern Established, it will Wincccasing to Laur in hand funds suffrevent to meet- cument expenses and to love initial outlays. Buildings for public offrees, for Opeens quantes, for a fast, sa well Luni lite lustment: Reprocent louds will Zuur to timproved and
alw chês lade.
adelool
To most this expenditure I steam.
mend that couse ti tad tie ban. 忍
The Government of the was traitory
night to Emporced to bound up to
a maximum amount and to
anaugh with a weal bank for and overdraft, so that it Coffin Euch advances, not exceeding the amount- it has been authored to borrow,
d
way from time to time
squill.
aj
Alundary Land
Page 150Page 151
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