CO129-318 - Governor Sir Blake - 1903 [7-10] — Page 577

about $350, 0 0 0

schemes to be charged to the loan,

which

think is proper,

once wife out

the

over assets, wh now casts,

7. proceed

shall at

excess

of liabilities

a-0

above, sanctioning.

COPY

saying

that

the approhn, ordce.

a separate desk will be addressed

to him in regard to items 26,oup 59

(as

to which I

(papers separately).

Sanction the

circulating

забрана

Sanction the Estimates, note the increase

to the Governor's Salay

& the small sum

له

for which we have asked for visual instruction

Say we will write seperately Property resumptions

as to the "Insanition

1

"Insanitary

we

Shall be one

too glad if

Put the arguments in favor of lassie hat day be a loan in a confidentiel despatele ank Mi. May Whether he is in fabom of raising tomoning A loan at once a whether we com tide wei

another

I can

Shardly

think with this goat

increase of revenue that a loan is necessary. We seem to have given up the idea of raising the rates

d

5. at once

573

1904

The Revenue for 100 is estimated at $6,608,308 ( of which $400,000 is from Land Sales) This is an increase of something over $1,400,000 on the Revised Estimate for 1903 and of $1,700,000 on the actual revenue for

1902.

The increase is almost wholly due to re-letting the Opium monopoly at an increase or $1,225,0 000. There is also an increase of $84,000 on Assessed taxes and other minor increases, counterbalanced to some extent by small decreases under various heads.

is no serious falling off under any head.

The figures of expenditure are as follows

1902 (Actual}

$5,909,548.51

1903 (Estimate)

5,645,601.23

1903 (Revised Estimate)

1904 (Estimate)

X

5,595,682.23

6,531,349.

There

The Estimates for 1904, therefore, shew a

surplus of $76,959. The estimated excess of ordinary Revenue (excluding Land Sales) over ordinary expendi- ture (excluding Public Works Extraordinary) is 950,359.

In view of the fact that they begin the year

with an estimated excess of Liabilities over Assets of

$281,039 (As a matter of fact it will probably be more as we have approved some expenditure to be defrayed

this year since these Estimates were framed) I doubt

very much whether they have left themselves enough

margin to work on(See further at the end of this minute)

The Estimates are excellently drawn up and

fully

T.B.

X The figures in the despatch refer only to ordinary ex-

penditure. There was a saving on Public Works

Extraordinary for which I have allowed here.