Sessional_Paper_1889 — Page 291

No. 334.

HONGKONG.

289

20

No. 89.

REPORT ON THE CONDITION AND PROSPECTS OF HONGKONG, BY HIS EXCELLENCY SIR G. WILLIAM DES VŒUX, GOVERNOR, &c,

Presented to the Legislative Council, by Command of His Excellency the Governor.

Governor Sir G. William Des Vœux to the Right Honourable Lord Knutsford, Secretary of State for the Colonies.

MY LORD,

GOVERNMENT HOUSE. HONGKONG, 31st October, 1889.

In connection with the Blue Book for 1888 (forwarded with the usual Colonial Secretary's Report during my temporary absence in the late Mr. STEWART'S despatch No. 287 of the 2nd ultimo) I think it may prove of interest that I should make some observations, at the same time giving additional information and statistics in respect of the present condition of the Colony and its progress in the two years during which I have administered the Government.

REVENUE.

C:

2. The Ordinary Revenue shows a constant tendency to grow in amount pari passu with the increasing population and wealth of the Colony; and that of 1888 ($1,557,300) was larger than in any former year. The increase by comparison with 1887 ($1,427,485) was principally in (1) Stamps" which advanced to $187,150 from $170,233, (2) "Municipal Rates" which afforded $360,291 in the place of $332,863, (3) Postage" which returned $144,218 instead of $137,436, (4) "Miscellaneous Receipts," principally profit on subsidiary coins, $107,341 as against $61,227.

"

12

3. The improvement in all of these items was, no doubt, largely due to the increased business and wealth of the Colony. That in "Municipal Rates Was however more immediately occasioned by the better assessment of property which was brought about by an officer recently appointed for this special duty. I have reason to believe that there is still much opening for improvement in respect of valuation, and that from attention to this point as well as from the largely increased value of property, there should be a still greater advance in this item during the next few years.

4. Profit on subsidiary coins is a comparatively new item of Revenue, and is shewing a constant tendency to increase. Appended is a table shewing the number of coins issued since the supply commenced together with the profit obtained each year.

SILVER COINS. COPPER COINS.

PROFIT.

1864,

15,638.70

30,293.92

13,333.22

1865,

49,447.00

30,343.58

6,758.58

1866,

60,014.60

30,000.00

5,877.49

1867,

10,000.00

29,987.28

14,249.41

1872,

14,000,00

950.52

1873,

105,317.00

9,000.00

7,878.70

1874,

49,883.00

11,000.00

2,628.91

1875,

47,287.00

3,500.00

5,361.52.

1876,

44,623.00

6,500.00

8,088.13

1877,

57,680.00

12,500.00

10,781.51

1878,

38,815.00

14,700.00

8,572.34

1879,

50,595.00

12,000.00

11,528.36

1880,

50,400.00

6,300,00

7,454.80

1881,

46,600.00

4,500.00

2,850.67

1882,

100,800.00

10,000.00

10,000.08

1883,

101.900.00

2,403.47

1884,

212,500,00

26,285.37

1885,

282,200.00

33,464.87

1886,

176,500.00

..

41,384.48

1887,

1888,

497,300.00 910,000.00

24,352.73

+

72,904.77

The Right Honourable

Lord KNUTSFORD, G.C.M.G.,

&c.,

&c.,

&c.