Sessional_Paper_1918 — Page 36

32

The Chancellor of the Exchequer now states to the Board that by Ordinance No. 18 of 1917, passed on the 8th June, 1917, the Legislative Council of Hongkong made pro- vision for levying a special war rate of 7 per centum per annum to be payable from the 1st July, 1917, and to continue to be payable until the end of the quarter during which the war shall come to an end in respect of the valuation of every tenement in the places specified in the schedule of the said Ordinance.

By virtue of section 7 of the said Ordinance the revenue collected by means of this rate is to be placed at the disposal of His Majesty's Government for the prosecution of the war.

The Chancellor recommends that all sums received in respect of this further con- tribution from the Colony shall be paid into the Exchequer for application towards expenditure on the war.

My Lords concur and desire that the necessary directions be given from time to time as the money becomes available.

The thanks of Their Lordships have already been conveyed to the Legislative Council by the Secretary of State for the Colonies, but Their Lordships are glad to avail Them- selves of this opportunity of placing on record Their appreciation of this spontaneous and generous gift.

Let a copy of this Minute be forwarded to the Under Secretary of State Colonial Office, for transmission to the Legislative Council of Hongkong, and let copies thereof be presented to both Houses of Parliament by His Majesty's Command.