CO129-421 - Governor Sir May - 1915 [3-4] — Page 387

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REG MAY 15

Sir,

GOVERNMENT HOUSE,

HONGKONG. 10th. April, 1915.

15932

In continuation of my Despatch No. 60 of the

19th. of February, I have the honour to inform you that the

closing of the accounts of the Opium Monopoly for the year 1914

reveals the fact that owing to decrease in conswption due to loss

of population and increase in price, the stocks of raw opium

carried over, supplemented by various large seizures of both raw and prepared opium brought into the Colony for purposes of smuggl-

-ing, are larger than was anticipated and that it will not be

necessary to purchase more than some 260 chests of opium, costing

say £300,000, during the current year, while the arrangement made

with the Indian Government as from the 1st. of January, 1916, for

the purchase of annual supplies of opium will not necessitate the

laying in of stocks to provide for which the Estimate of $800,000

in this year's Estimate is partly calculated. In addition to the

above there is an estimated expenditure of $120,000 for purchase of

Dross opium and for cost price of seizures, which is debited in

the first instance to the vote. The result is that there should be

a saving on the latter estimate of some $380,000.

2.

Against this saving has to be placed an extra

payment of $76,000 for Military Contribution on the excess of

revenue for 1914; about $150,000 for expenditure on the Volunteers

and on other services in connection with the war; and about

$200,000 for the resumption of the property in front of the

*

THE RIGHT HONOURABLE

LEWIS HARCOURT, M.P.,

&c.,

&C..

&c...

Central