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HONG KONG LEGISLATIVE COUNCIL.
CHARGES OF THE YEAR, 1930.
THE COLONIAL SECRETARY moved the second reading of "A Bill to authorize the Appropriation of a Supplementary Sum of Two million four hundred and eighty-six thousand five hundred and seventy-seven Dollars and two Cents to defray the Charges of the year 1930.”
THE COLONIAL TREASURER seconded.
THE HON. MR. W. E. L. SHENTON.-Your Excellency, I rise on behalf of the Unofficial Members of this Council to express our appreciation of the successful administration of the Colony's finances for the year 1930.
one;
The year
under review was an extremely difficult circumstances arose, mainly due to the phenomenal fall in exchange, creating situations the ultimate result of which it was difficult to foresee.
Your Excellency's keen foresight and sound judgment has carried us through a difficult period with an actual deficit of $301,173 only a position which was hardly anticipated.
Whilst we have weathered the storm of 1930 we venture to The Colony think that the present year will also be a difficult one.
is still experiencing difficult times financially, but we hope that Your Excellency will find that our revenue is sufficient and that no increased taxation will be called for in connexion with the forth- coming Estimates.
Since the various items in the appropriation account have received the approval of the Finance Committee and have been adopted by this Council, we have no comments to offer on the Bill.
THE HON. MR. R. H. KOTEWALL.--The remarks of the honour- able Senior Unofficial member represent completely the sentiments of the Chinese unofficials. Nevertheless, as the senior representa- tive of the Chinese, who constitute at least 95 per cent. of the taxpayers, I have felt it incumbent upon me to try to add emphasis to the plea that no fresh taxation should be imposed in connexion with the forthcoming Estimates. During the short period of less than a year the assessment rates have been increased by
per cent., shipping charges have been raised, the duties on liquor and on tobacco have been substantially augmented, the stamp duty has also been increased, while a tax has been put on certain forms of entertainment. The world-wide trade depression has not shown any appreciable sign of diminution, while the uncertainty of the political outlook in China is having an adverse effect on trade between the neighbouring provinces and this Colony, which is no longer able to bear any additional taxation, whether it is or is not lightly taxed
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