CO129-324 - Governor Nathan - 1904 [10-12] — Page 74

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed

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739

exceed the revised estimate for 1904 by $268,191.

The estimated Ordinary Revenue for 1905

exceeds the estimated Ordinary Expenditure by $1,338,719.

Land sales are expected to realise $500,000 and Public Works

Extraordinary are estimated at $1,815,300 leaving an estimated

surplus of $23,419.

13.

The Estimate of Revenue for next year is

not, I believe, unduly optimistic. The only item,

showing a

large increase, which calls for special notice is that for

Crown Rent in the New Territory. I propose to make a consider-

able increase in these rents when issuing titles to the land

and I shall address you at a later date on the subject.

14.

The financial position especially in view

of the large unavoidable expenditure on Public Works Extraordi-

nary that is provided for might therefore be considered as

extremely satisfactory, were it not that it is very doubtful

whether the revenue derived from the Opium Monopoly will be

realised.

After the Estimates had been completed

and 2 days before they were laid before the Council with the

Appropriation Bill, the Opium Farmer made an application for

a substantial reduction, which he hinted might be placed at

$840,000 per annum, in the fee which he has contracted to pay

the Government for 3 years from the 1st of March last.

I immediately directed the Colonial

Secretary and Registrar-General to enquire into the matter, and I caused the Unofficial Members of Council to be informed

confidentially before the Appropriation Bill was read a second time that such application had been made and that if after

enquiry

...

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739 exceed the revised estimate for 1904 by $268,191. The estimated Ordinary Revenue for 1905 exceeds the estimated Ordinary Expenditure by $1,338,719. Land sales are expected to realise $500,000 and Public Works Extraordinary are estimated at $1,815,300 leaving an estimated surplus of $23,419. 13. The Estimate of Revenue for next year is not, I believe, unduly optimistic. The only item, showing a large increase, which calls for special notice is that for Crown Rent in the New Territory. I propose to make a consider- able increase in these rents when issuing titles to the land and I shall address you at a later date on the subject. 14. The financial position especially in view of the large unavoidable expenditure on Public Works Extraordi- nary that is provided for might therefore be considered as extremely satisfactory, were it not that it is very doubtful whether the revenue derived from the Opium Monopoly will be realised. After the Estimates had been completed and 2 days before they were laid before the Council with the Appropriation Bill, the Opium Farmer made an application for a substantial reduction, which he hinted might be placed at $840,000 per annum, in the fee which he has contracted to pay the Government for 3 years from the 1st of March last. I immediately directed the Colonial Secretary and Registrar-General to enquire into the matter, and I caused the Unofficial Members of Council to be informed confidentially before the Appropriation Bill was read a second time that such application had been made and that if after enquiry ...

Baseline (Original)

739 exceed the revised estimate for 1904 by $268,191. The estimated Ordinary Revenue for 1905 exceeds the estimated Ordinary Expenditure by $1,338,719. Land sales are expected to realise $500,000 and Public Works Extraordinary are estimated at $1,815,300 leaving an estimated surplus of $23,419. 13. The Estimate of Revenue for next year is not, I believe, unduly optimistic. The only item, showing a large increase, which calls for special notice is that for Crown Rent in the New Territory. I propose to make a consider- able increase in these rents when issuing titles to the land and I shall address you at a later date on the subject. 14. The financial position especially in view of the large unavoidable expenditure on Public Works Extraordi- nary that is provided for might therefore be considered as extremely satisfactory, were it not that it is very doubtful whether the revenue derived from the Opium Monopoly will be realised. After the Estimates had been completed and 2 days before they were laid before the Council with the Appropriation Bill, the Opium Farmer made an application for a substantial reduction, which he hinted might be placed at $840,000 per annum, in the fee which he has contracted to pay the Goverment for 3 years from the 1st. of March last. I immediately directed the Colonial Secretary and Registrar-General to enquire into the matter, and I caused the Un-official Members of Council to be informed confidentially before the Appropriation Bill was read a second time that such application had been made and that if after enquiry ...

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739