CO129-313 - Governor Sir Blake - 1902 [10-12] — Page 143

1io. 466.

Hongkong.

Government House,

C. O.

46500

Hongkong, 24th. October, 1902.

142

Gov

sir,

48587

Loure &

I have addressed you separately in Despatch

No. 465 of this date on the subject of the Estimates generally,

and you will have observed from my statement to the Legisla-

tive Council that I propose to ask your authority for the

issue of a Loan of $2,250,000 to cover the Public Works Ex-

traordinary in the attached list, all of which will be re-

munerative.

G

33303

2. The deficit is considerably larger than

was anticipated in the report of the Committee forwarded in

Sir William Gascoigne's Despatch No. 302 of the 10th. July

last and I enclose a minute by the Colonial Secretary and the

Treasurer explaining the discrepancies in their Estimate of

closure).

1907

of 8th Dctober poz. losure 2. the September,

8/07

ilm

Expenditure. I also forward extract from a minute by the

Colonial Secretary shewing how additions might be made to the

previous proposals for raising revenue. These proposals received

my approval and I have already given effect to them.

3.

Assuming that your authority be given, the

question remains whether the Loan should be a Silver or a

Gold Lean. On this point I consulted my Executive Council

a large majority of whom were in favour of a Gold Loan, a view

Chi of

in which personally I share. I consulted also Mr. Saith the

THE RIGHT HONOURABLE

JOSEPH CHAMBERLAIN, M.P.,

Ecc...

&C..