CO129-536-1 Estimates- 1932 3-9-1931 - 16-6-1933 — Page 3

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Gov 419

2.X.31

Subnuti draft Estimatio 1932

These are the draft estimates only,

but it is unusual for any considerable amend-

ments to be made during the passage through the

Legislative Council. The following are

comparative figures of revenue and expenditure

of the last few yeurs. The comparison is

not very useful owing to the large fluctuations

in the value of the dollar; it will be seen that Hong Kong has managed to avoid any large

deficit during these years, there being only a small deficiency of $300,000 in 1930 to set off

against surpluses in each of the other years.

Revenue

Expenditure

1928

23,005,040

21,250,242

1929

23,554,475

21,983,257

1930

27,818,474

28,119,645

1931 (Appd.

Est.) 27,488,759

29,787,851

Revd.Est. 31,204,368

31,152,500

1932 Est. 33,991,510

34,981,661

Surplus of Assets over Liabilities.

$

31.12.28

8,091,633

31.12.29

9,667,852

31.12.30

9,361,679

31.12.31 Est.

9,413,547

31.12.32 Est.

8,423,396

The revised estimates for 1931 are

very cheering. Although expenditure has

increased because of the depreciation of the

dollar, revenue has increased still more, and a

small surplus is now anticipated instead of a

deficit of $2,300,000. In consequence,

it

is expected that they will still have

over