CO129-511-11 Estimates- 1929 21-9-1928 - 14-11-1928 — Page 18

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and a general feeling of security is being fostered. We welcome these signs and venture to

offer our congratulations and good wishes to the

governments of these provinces in the great endea-

vour they are making to restore prosperity to the

areas over which they rule.

But we have a long way to go before the volume of the Colony's trade will reach the figure of more prosperous times; at present I am advisod that trade is improving but that the improvement is very slow and is hampered by a lack of confidence.

in the future on the part of the Chinese merchant

leading to excessive caution in his businoss

transactions. He is inclined still to adopt a

hand to mouth policy to which he is encouraged by his uncertainty as to the taxation which will be

imposed by his Government.

Bearing the so facts in mind we cannot

but congratulate ourselves on the position in which the Government Treasury finds itself today.

The revenue has shown a remarkable recovery.

Without any alteration in our fiscal system bo-

yond the two almost trivial items of school fecs

and ship survey fees to which reference was made

last year our estimate of $20,103,390 secms likely

to be exceeded by $2,571,020 and we now estimate

our revenue for this year at $22,674,410. There

aro increases under almost all heads, the most

noticeable being the increase of over $1,000,000 in land salos due to the resumption of land pur - chasc in the Colony during the last fow months. Thero is no doubt that the population of the

Colony has been increasing during the vear and

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