CO129-541-2 Estimates 1931 14-10-1932 - 19-7-1934 — Page 191

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the parties interested.

10. I take this opportunity of thanking you for

your telegram No. 132 of the 5th October, 1932, which reached me on the morning of the debate and enabled me to answer the unofficial criticism of the supposed delay in the commencement of the Shing Mun Gorge Dam.

11. Not content with mere approval of the Government programme the unofficial members' speeches showed a tendency to press the Government to embark on a "forward policy" involving expenditure which could not be justified in the present state of the Colony's

finances.

I therefore felt it necessary in my address at the conclusion of the debate to sound a very definite note of warning and to remind unofficial members that the Government could not permit itself to be forced into expenditure for which adequate funds were not available. The revenue is not coming in as well as was expected and unless there is some improvement before the end of the year it is doubtful whether even the revised estimate of $33,152,674 for 1932 will be realized. As I pointed out in my remarks to the Council it will be necessary to watch the revenue very carefully for the next few months and to be ready if necessary to curtail rather than to increase the large programme of Public Works. In basing the estimates on a dollar at ls 2d it is considered that a very conservative policy has been adopted and the Government can look for considerable relief if, as is hoped, the dollar remains substantially above 1s 2d.

12.

The two clerical services are shown in the

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