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have, therefore, reduced the expenditure to sterling, using the approximate rate of exchange that ruled during the several periods.

The capital cost of the water-works, throughout the Colony, may therefore be estimated at £435,441 or at the rate of £1.45 per head of the population, a very moderate sum, as the following figures, taken from the Presidential Address of Mr. JAMES MANSERGH, M. Inst. C.E., fully shew:-

London,

Capital Cost per million gallons

per day. £ 87,253

Capital Cost per head.

£3.08

Liverpool,

183,297

5.15

Manchester,

182,927

3.40

Birmingham,

119,114

2.90

Glasgow,

66,320

3.60

Dublin,

60,000

2.20

Paris,

a

108,780

5.30

Berlin,

106,796

1.85

Vienna,

218,580

3.20

65,199

7.00

26,000

3.25

30,435

5.70

73,578

7.00

Melbourne,

130,120

7.90

Taxation.

Conclusion.

New York,

Chicago,

Philadelphia, Boston,

The supply, during 1901, was at the average rate of 3.53 millions of gallons per day. The capital cost per million gallons per day is, therefore, £+35441. £123,354.*

The total expenditure, therefore, per million gallons per day, is also by no

means excessive.

30. Nor is the taxation excessive. The total Water Revenue collected from all sources in 1901, was $168,966 or at the rate of $0.562 per head per annum. Taking it per 1,000 gallons delivered, the rate was

$0.13 per 1,000 gallons, a low price.

168.966 1,287,000

31. I think, therefore, that it is clear that the Government of Hongkong may safely incur a fresh expenditure on water-works, at least equal to that incurred up to date, and also increase the water-rate or price for water sold by meter in such manner as to pay maintenance, interest and sinking-fund, on the augmented capital.

I have the honour to be,

•

Sir,

Your obedient Servant,

OSBERT CHADWICK.

The Honourable

THE ACTING COLONIAL SECRETARY.

* Note. This amount does not include Kowloon or the Village supplies, so that the true capital cost gallone is somewhat less.

per

million