CO129-388 - Governor Sir Lugard - 1912 [1-2] — Page 12

but not very convincingly, how it happens hat he

Aminal Aalance sheet rendered ai accordance witn

he authorised system g wiclude certain items which presumably would affiear in a Shalement a husets and fiabilities compiled in accordance with commercial practice. It does not

Colonial accounts over not

appear wheter W. Hewett was satisfied or not within he mean? Explanation but, in any case,

I think kial

hi Trea": might have been a litte more explicit and

might

hat he showed have pointed out hist his fineral Account g his Col. fort is to an account of current actual cash receipts and payments only and hat in halance shich appears in him Balance theat derived from such an account representi hi accumulated acess of revenne over Expenditure or ruce reixà, as the case may be. For pauperes o financial convencence and in order to maintain this anangement, his accounts of funded debt and sucking funds are excluded from his Aelance theat on general assolint

tugues but reparate and complete accounts are Rept ghi Colony's public debt and summaries of these aseouuli are published with, and as an appendix to, his belance theat, this affording complete information regarding his financial

baction of tin Colony 1510

Koply according

Cm Jm

No

Cosure

dure

Sir,

11

2723

Riot 27 JAN 12

GOVERNMENT HOUSE,

HONGKONG, 3rd. January, 1912.

With reference to the remarks, report of

which is enclosed, made by Mr. E. A. Hewett during the debate on the second reading of the Appropriation Bill regarding the manner in which the accounts of the Colony are presented to the Council, I have the honour to point out that the Statement of Assets and Liabilities is prepared in accordance with the instructions contained in Colonial Regulation 344. Footnote 1 on page 2 of the Sessional Paper in which the financial statements were included smould, however, have read *£550,000 at various exchanges between 2/14 and 1/9" and footnote 3 "£660,000 at various exchanges between 2/14 and 1/9". The paper has been re- -printed with these corrections.

RIGHT HONOURABLE

LEWIS HARCOURT, M.P.,

80+*

&0...

I have the honour to be,

Sir,

Your most obedient,

humble servant,

Governor,&c..