THE HONGKONG GOVERNMENT GAZETTE, 14TH SEPTEMBER, 1867. 327
25. In my wish to give you as full and frank explanations, as possible, of the probable amount of your Revenue in 1868 and the unusual circumstances likely to affect it, I have occupied your attention so long, that I must somewhat abbreviate my remarks on the items which you are called on to vote. I shall probably remedy this at our next Meeting, but in the meantime it is very important that Members of the Council, who are anxious for information as to the reasons influencing the Government in proposing any particular Expenditure should seek that information before our next Meeting, because in most cases they will find the explanations, which they require, stated at length in memoranda and corre- spondence filed in the Colonial Secretary's Office, whilst I scarcely know of any document in that Office, which I am not willing to lay before Members of this Council.
26. The item which, whilst novel, is heaviest in the proposed Expenditure is the contemplated provision for a new Civil Hospital in a Central position. It is proposed to purchase the site recommended by a Medical Commission for $32,500, and to vote a sum of $25,000 towards the cost of the building next Year. The correspondence and discussions which resulted in passing recently the Conta- gious Disease Ordinance, have at last imperatively required something to be done for the enlargement of the Lock Hospital, and it is proposed to give up the whole lot and all buildings thereon now used as a Civil Hospital, for that purpose, the Colony receiving a sufficient sum as recompense for the inconveniences and expense incurred on account of the measure taken to preserve the health of H. M.'s Troops and Sailors, and transferring the Civil Hospital to a more central and convenient position. I am not yet in a position to say that Her Majesty's Government will accede to the proposal, which would of course materially aid the Colony in obtaining a new Hospital, a measure which the ruinous condition and inadequate accommo- dation of the present building must have rendered ere long a necessary duty under any circumstances.
27. The construction of the New Road to the Gap has been again deferred, but nevertheless, notwithstanding all the difficulties of the Colony, you will observe that provision is made for an Expenditure of $205,000 on the Public Works, Roads, Drainage and general improvement of the Colony, and I may observe that, when retrenchment is possible in any other direction, I would always advocate its not being pressed in those matters which conduce to the health, facility of commu- nication and the general attractions of the Colony. The Community which raises the Revenue has unquestionably a first lien for such purposes on the money which they contribute, whenever there be a surplus after due provision for the main- tenance of Law and Order.
28. You will find that more ample provision than previously has been made for the conduct of the Public business by strengthening the various departments. That increase is in a great measure met by the diminished Expenditure on Gaols under the present system of administration, and by the increased Revenue accruing under the new Registration and Junk Ordinances. Amongst the additions to which I allude are some to the Staff in the Colonial Secretary's Office, and this is a point on which any Member of the Council will oblige me by reading the cor- respondence connected with it.
29. The Council must bear in mind that I am not now attempting to give any- thing like full explanation of the proposed Expenditure, which may be said in a great measure to explain itself in the detailed Estimates which shall be supplied as soon as possible to each Member, but I may state in reference to one important depart- ment, the Mint, that although its establishment and working expenses are put down. at less than $60,000 for 1868, yet if it was really in sufficient work to pay even its present expenses with the seignorage of 1 per cent, its cost would rise to at least $100,000 per annum according to the Master of the Mint.
30. You will appreciate the importance of this more easily, if you consider that with a seignorage of only 1 per cent, and a waste of at least 3 per mil, it would require a coinage of more than 13 Millions of Dollars for the Mint to pay its mere working expense, computed as above, without taking into account interest on upwards of $350,000, sunk capital.
31. From recent inquiries I have ascertained that the Mint has not coined on account of the Public, that is, has not received seignorage, on a total of more than $1,026,773 since its establishment in May 1866, of which $18,992 paid 2 per cent seignorage, whilst all the profits from seignorage, without making deduction for waste, have not reached $10,500. I can therefore only hope that the Mint's
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