CO129-505-12 Estimates of expenditure 1928 1-9-1927 - 12-1-1928 — Page 47

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Traffic Beacon

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Cost Of Living.

In this connection advantage suffering from the disturbed condi- tions in China, but there is, never- might be gained from an examina-theless, a general all-round want of tion of our financial position for confidence, which is assisting to the past five years by comparing effort, whether by legislation or by stagnate every market. Every revenue against our expendi-individual effort to restore the old ture, leaving out of our calcula- confidence and re-establish institu- tions and concerns to their former tions (for reasons I have already

position, should be the aim and stated) the revenue obtained from

object on all sides. land sales. In the year 1922, the surplus was $1,006,258.33, the year 1923 shows a deficit of $276,939.36,

the year 1924

deficit of $4,426,024.58, the year 1925 a deficit of $5,592,689, the year 1926 a deficit of $2,679,409, the year 1927 an esti- mated deficit, including land sales, of $1,787,305 and the year 1928 an estimated deficit, including land sales, of $2,079,655.

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At the end of the year 1928 on the present basis of figures it would appear that we shall have used up our present liquid assets. Assum- ing the present conditions prevail for the year 1929, we shall be faced with having tɔ exercise more rigid economy or look for fresh sources of taxation, therefore, too much care cannot be exercised in embark- ing on new enterprises.

We are, however, fortunate in that the ambitious

programme

which was undertaken in the past, will, I understand, have been com- pleted and paid for out of revenue by the end of the year 1928. We must not be forgetful of the fact that those responsible in the past have handed down to us an inheri- tance almost unencumbered, a posi- tion possibly unique, and posterity will have every right to look to us for

a similar stewardship. We must also bear in mind that pos- terity may have legitimate claims for borrowing, Or circumstances may arise in the future, as in the past, which may call for claims on the Colony's credit, consequently it would be undesirable to borrow up to the full extent of the Colony's I notice that the Gov- ernment has not confined its bor- rowings to money in the past, for on page 66 of the estimates (item 19) I find we have borrowed a mechanical device, now in opera- tion at the junction between Des Voeux Road Central and Pedder Street, for keeping the public of the Colony presumably in the right path.

resources.

The period through which the Colony has now passed has been a very difficult one for every busi- ness concern, and though we ap- pear happily to have turned the corner, and there are signs of bet ter times, nevertheless a very con- siderable improvement will be re- quired, before the former position is again reached. At the present it cannot be denied we are chiefly

A matter of great concern and undoubted importance, is the con- tinually rising cost of living in this Colony. It affects everyone, but more so that large body of cssential residents, who are em- ployees, and without whom the Colony cannot exist. This matter should receive special consideration and it might be possible to hold a representative Inquiry to ascer- tain, if possible, its causes, also to appoint a permanent official to keep a continual watch on the posi- tion and investigate generally. One of the troubles would appear to be the various profits which are made from the time foodstuffs ar- rive in the Colony until they reach the ultimate consumer. Efforts might be made to bring the retail consumer into more direct contact with the supplier. It must le borne in mind that the facilities and inducements for spending money have much increased in re- cent years, also that the residents of the Colony are living at standard of luxury hardly contem- plated fifteen or twenty years ago. I note that it has been found

to detail necessary

fficer specially to look after the account- ing and financial work of the Supreme Court. I have difficulty in understanding this necessity be-

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the years past when business of the Courts was greater than it now is, no such provision was made or considered requisite.

cause

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Ravages Of Malaria,

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I have noted with particular interest the provision which is being made to deal with malaria, and instructing the villagers in sanitation and hygiene. Unques- tionably in the past the ravages of malaria have robbed the Colony of an immense amount of manpower, so great that it is impossible to value it in money, therefore, no effort is too great to deal with this scourge. Bound up with malaria and other diseases are sanitation

and hygiene in our villages, be- cause cleanliness and care in the a long way to

villages will go

eradicate malaria.

Under public works recurrent, the Honourable Colonial Secretary has dealt with the maintenance of bridges and the upkeep of our splendid roads. I would, however, like to draw the Honourable Colonial Secretary's attention to the fact that the Taipo bridge, which is in the main line of traffic,

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