CO129-291 - Governor Sir Blake - 1899 [5-6] — Page 103

this

As to the estimated Expenditure on the new Territory during year

? porist out that the amount materially exceeds that submitted in his Despatch 8382, & refer to our Despatch on 12517 regarding the macemity of keeping that Expendition down, strewing that there

longer be tuated as

Confidential

tur Despatches und no

of

As to the vague & rough latinmates for of Revenue for most year I to the proposed additional taxation already referred

Telegram 12422, see minute on 20069_

to in Telegram

As to the best para: ? observe that we have already approved his obtaining temporary

of Despatch on 12517 but obvarme

with

advances in para &

say

that the sofs obruved anxiety from the latest Treasury returns

that; the advances obtained from that bacch already

excid

1,000,000.

1,000,

Write

as

9.6.7 10/8

74/8

purposed See on 20064 CPL-15

2378

19620 101

RECD

REG 12 JUN Government House

No.116.

Hong Kong,

12th May, 1899.

nel: 1. 15-3-99 (Printed)

sir,

I have the honour to acknowledge the receipt

of your despatch No.332 of the 23rd. December last on the sub-

ject of the Estimates and Appropriation Bill for the current

year.

2. I have delayed answering that despatch until

the financial results of the year 1898 were before me, and I

now forward for your information the Financial Statements for

that year, from which you will observe that the actual revenue

collected exceeded the actual expenditure (exclusive of works

chargeable to the Loan) by $76,354. This surplus has been large-

ly invested in subsidiary coinage, of which on the 31st.Decem-

ber last there was, according to the statement of Assets,& stock in hand amounting to $345,000 worth, and $650,000 worth in transit. The profits on these coins will come into this

year's account.

3. The statement of expenditure included in

the Financial Returns for last year will furnish the explana- tion desired in paragraph 3 of your despatch and as regards paragraphs 5 and 6 I beg to refer you to the statement of As- The Right Honourable

sets

JOSEPH CHAMBERLAIN,M.P.

800. ↑

.

860.