CO129-545-2 Government House and city development scheme 13-10-1933 - 12-1-1934 — Page 15

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here lies in the adjustment of Military contribution the

original estimate of 1933 being $5,832,271 and the revised

estimate $5,694,559. Part of this reduction is due to over

payment in respect of 1932 and part to certain concessions

in respect of revenue exempted from contribution of which

I shall say more at a later stage.

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The main factor in the falling off of our ordinary

revenue lies of course in the general depression from which the

world at large has been suffering for some years past and

which is now hitting the Colony in earnest. The import

duties on liquor and tobacco for the first half of 1933

have been only $1,883,876 as against an estimated figure

for the same period of $2,950,000. Stamp duties are simi-

larly $1,111,731 as against $1,300,000. Opium revenue for

the half year stands at $643,030, instead of $1,250,000

but only a very small part of this fall is attributable

to the decreased means of the addicts. The bulk of the

loss is attributable to the new arrangement instituted on

the recommendation of the Bangkok Conference by which this Government's Monopoly draws its supplies of prepared opium

from the factory of the Straits Settlements Monopoly. The

Hong Kong addict does not like the Singapore brand. The

grounds of his dislike are somewhat obscure at any rate

for the moment and are being further explored; what is

clear is that he will not buy the opium that the Hong

Kong Government offers him. If this state of affairs

indicated a genuine step towards the liberation of the

addict from his addiction, it would not only not be a

subject for regret; it would be a matter for positive

congratulation. The Hong Kong Government abides by its