CO129-376 - Governor Sir Lugard - 1911 [3-4] — Page 70

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would desire to emphasize the financial aspect of this

question as it affects the revenues of this Colony. While

ocean-cable facilities are dependent (owing to their great

cost) on arrangements with the Companies who lay them, land

lines are so far as am aware a universal source of revenue

in all Colonies and form part of the receipts of the Post

Office. In Hongkong the Post Office instead of assisting the

revenue has for many years been conducted at a loss. As you

are aware the financial condition of this Colony has not been

in a satisfactory condition for the last three years owing to

the losses due to the redundancy of Subsidiary Coin (in the

endeavour to rehabilitate which the Colony has spent

8793,300 during that period) the fall in the exchange value

of silver, the depression in trade, the loss on the Opium

Farm and finally the cost of the Railway, while the Govern-

-ment stands committed to the construction of a Harbour of

Refuge in the interests of Chinese Shipping Craft at an estimated cost of over two million dollars andis urgently

in need of further reservoir extensions which will involve

very large expenditure. In these circumstances I introduced

last year a tax on intoxicating liquors consumed in the

Colony