170
THE HONGKONG WEEKLY PRESS AND
PROBABLE FINANCIAL PUSITIO / 07 THI
31ST DECEMBEr, 19.15.
[Səptəmbər 9, 1995.
largely excended, but I prefer to be on the safe side with regard to this very speculative item. The year 1904 closed with a bi'ance of Assets The returns for the sal of timber hav bзn not including a 'rears o*$ 197,722. Asoriin;t put at $5,900 le's than estimate for 1905, the the original Estimates for the current year puiolo avsage feling rɔt tin hav'ng ben somewhat extended after discussion in tiis of revenus a' surplus of $2,119 was estimited. The ravis d'estimate of rdina y revenu (that Council and referens to the Forest Dpirt. is raveone exclusive of land sales) for the yirment of Iali. Tara isa dəɔ283) of $10,50) 1905 is less than the origina' estinate by in the item for plan.her Hoise Fans which $18,511, a reduction of $180,00 in this receipts was over-estimated for 1905. The agg eg de from the Opium Farm, to wh'c' I will refer of the decreas) in the above four it ms is thus again presently, not being entirely covered by | 8316,4 '0. Tɔ this has to bɔ a l'el §.5, ̃0) die iuc ass on tw item of ordinary revenue. to mine deras in 14 other items There A shortag of $10,000 is also nov exp cbol in rsults a to al dere se o (31,2)), wïc't land sales which have lately much fallad off, dedn stel from the to al inc cas of $427,500, probably owing to the recent financial crisis laves a not increase of $148,781 in the revenue in the Chine o ('ommunity. The revised of $7,317,3)5 but mitel fo: 1905 ovaz thɩt of es imat of ordinary expe di ure (that is ex- $7,193,611 originally estimatɔl fo: 1915. The incraas) o e: the rǝrisəd penditure other than that o1 Extrandi ary | (applanse). Public Works) is more than the originaletimits of 87,03)19) f»: 19 5 is $ 67,2 15.
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to pass a few votes an horising excessis on thɔ Estimats for the pressat year and to mak financial provision for th yar 1908. On this latt r matter I will addres‹ you on tis first reading of the App ooriation Bill The Merchant Shipping Amendment B.11 which stands next on the order of the day pro- vid's for bringing the law with retard to lights carried by junks inside and ou'side thɔ waters of the Colony into harmony and will repeal the Janks (Collision) Ordinance of 1902, which has proved ineffectual. It also embodies provisions in place of those enacted by the Smill Ships Exemption Ordinanc) of 1993 which have been urged on the Government by the Chamber of Commerce and for repealing that Ordinancs. Opportunity is further taken of making one or two minor alterations in the Merchant Ship piog Ordinance tending to simplicity and cleara ss of procedure. The Wonen and Gris Protest on Amendment Bill is in enld testimate by $25.768, the unint cipated exp introduce the provisions of the Criminal Law ditare on account of arrears for the Eastern Amendment Act of England with regard to the Mail Service, the acceleration of that service method of taking the evidence of y mug child- the eurvey for the Ciuton-Kowloon Railway, ren. It also provides for raising the age limit and the award in the Howard and Stephens in connection with some offences against girls cas, not being entirely met by savings ou in a manner approved by the directors of the sterling payments owing to the high rite of Po Leung Kuk, whr ein be trusted safely to exchange in the first eight maths of the your, gu'de us in such a matter. The Summary on plague e paditure and on various other Offences Awendment Bill is intended to streng. rot3s. A sin of $42,100 loss than the original then the hands of the police in dealing with estimate will according to the revisadestimato bo prostitutes. Legislation in this matter has spзat during the year on Extraordinary Pablin bean suggestǝl bɔth in thɔ Cuines) and Euro. Works. This differance between original and pean press. The Summary Jari-dictioarerisid estimates is not great in conu ction with (Married Wom n) Bill is inteadei to mark pro vision for the separat) maintenance of desertel or ill-treatel wives. It is complementary t the Ordinance passed in 1933 punishing per 808 for harbouring runaway wives. The last of the new Bills on the pap r is to enable the Government to take over the Wilows and Orphaus Pens Fund and to make it liabil for payments on account of that fund. It con- ta'ns provisions for distributing any rasant surplus of the fund in ac ul and prospectives pon ions to the widows and orphans of past uit present contributors. The Peak Tramvay Bill which was referred to the Law Committee o" the Council at the end of last year appears in the orders of the day for 3rd. reading.
FINANCIAL.
The COLONIAL SECRETARY lail on the table financial minutes Nos. 24 to 32 and moved
that they be refer dtoth Finance Comm' t
ThCOLONIAL TREASURE: Secɔid:dan l the motion was carried.
PAPERS,
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a sum of over 81,830,0). It wil be sean that t'he revised e ti net of rwanue and expenditura convert ts p'ns of 832 119 w ich appared ia th original es in t-iato a deficit of $78,760. Deducting this with the biline of assets at the end of 1905. that is from $297,722 and aldin; $113,00), the estimated arroses for the year, we get as the estimate balance of assets at the and of this year with which to start the your 1906 a sum of $377,932.
ESTIMATES OF REVENUS.
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ESTIMATES OF EXPENDITURE. The Memorandum explaining the Estimates of Expenditure which has been laid on the table deals mostly with items for which the approval of the Secretary of State has not 8m further explant- alrea·ly be 'n oʻtained tion will by of assistance to Honourable Mem. bra with regard to those items which, subjet to the rots of th Counc`l. have been approve!
In this explana'i»n I; at the Colonia Ofe stall andeay up to avoil confusion by omisting raferences to minor details which are ex, lained in the nots at the foot o eich pg of the detailed estimates. Tursing t page 6 of the printel Estimate you will see that the Charge. 01 Account of the Pablic Debt remains the sim as last year. The amoant for Pensions is in reaped by $15,676, of which $3,609 is due to the Government taking over the Widows and Orphans' Pension Fand and the balance, to an excess of new pзusions over pension ceased. There is a decreas of $2,50) in the vots for the Governor day to economie 01 the furniture itam, and on› of $3,517 in that for th Colǝa'al Secretary's Departm›nt, aïl Legis'atur,, which In the Memorandum explain; the Estimates is partly only apparen as the item co noctel
with the Pulie of Rarenne which has bien laid on the table an
Magistracy in the New explanation has been given of the increase or Territories anou iting to 8,478, have bзen decrease in every item of which the am uit transferrel to the vɔtɔ for the Magistracy wh rọ differs from that include in the amount for thy some to me mor in placɔ A change in 1995. It will assist Honourable Members if I tho holder o' the office of Chief C. rk account }- point out the most important of these differences for $1.720 of the bilance. Tue vote for the and their effect on the total of the estimate.| Registrar-General's Department is ingressed by If they will turn to page 2 to 5 of the priatel | $10 134 but $3,' 0 'o' this is a tranfe from the Estimates bafora them they will b able Miscellaneous Services Vote, "to which the rent easily to follow my remarks. Taking of the Rgistrar-G ne al's O lice was formerly in the first instance te incrases, it will curgel, waile $4,000 is sp cial orniture for b3 obs rved that the principal 0 10 of the quinquina'al consız "which ii da, in 1906 The COLON AL SECRETARY laid on the table 3249,000 is dus to thì bringing tɔ ravanas and which the Princ pal Civil Medic 1 Offer the following paprs:-Menorum explaining account of the accumulatel fands of the Widows strongly recommended sh ald b taken. Minot estimiles of revenue for the year 1995; Award and Orpans Pension Fanlan the 8 tbscrip- alterations are explained in the Memorandum of H.E. the Goverdor. in th claim of Mesertions forte y ar 1998. I have alrealy referrel accompanying the Estimates. There is a small Howard and Stephons for compensation for to the taking over of the fun in my remaks apparent allition of $34) to the vote for the
on the legislation proposal for the Ssion. injury sustained by them as owners of Mine
Audit Department on account of an alteration Est No. 181 through the works carriel ou now assesment b ings in an additional $83,3)) in the rate of conversion of Sterling into Dollars. Junder the Praya Reclamation Ordinance No. 6om rats wil piments for excs consump and an i crease of $6,439 to that for t'i› Treasury, of 1889; Financial Statements in connection tion of water and fɔr meters are put down at of which $3,00 is for the expenses of the with th Estimates for 196; Memorandum $3,000 more for the c ming year than for 1995, Wilows and Orphans' Fund, $1,00 for the 02 the Estimates of expenditure for 1996; The items for r cipts under the Stamp Ordia-additional cost of adhesive stamp, and the bulk Abstract showing differences between the 8ac3, for New Territory Rots, al for Sun lay of the remainder is da to stipa'atd in ɔrements Estimates of Expзaditure for 1995 and 1996; | Cargo Werking Permits, each acuits for an and to minor changes in siary explained in the Mem randum. In the Post Ofo the incre 189 Sanitation; Report on the existing flashing adiitional $15,0). The only other b system and proposed sites for new tanks. we anticipat is the licences for carriages and is a big 01, 84(231. Of this $27,818 comes chars. Lt year i was thought the open; of from an incresol payment for the Eastern the Low L vs T.au vay wouldwesult in a lire Mail Service as on the award of Lord falling of in the number of licence, but this Ba four of Burleigh, which was laid on thy an icipion has not be sa realisd, and it is safe table of this Council with my Financial therefore to go back to the figures for those Minut No. 13 of this year, and on the new licencs of 1904 and to ald $14,200 to the three years contract which has been entered amount which stood in the 1995 Estmye. In into with the Peninstr'ar aïl Oriental Stem addition to th⋅ fcagoing savɔn ite ps ar regit. Navigation Company for an accale ated service ing $127.5 0 thers ar 35 items of the E timates from the 1st February, 1905. It his also been that show incras-ezu də: $110)) which an unt necessary to provid• 33,5 10. for Mail Bags and Pa cal Post Retare Appa e`tly w have altogether to $33444 and in licit gener development. Tae sum tot of th increa83) beea a ing th belonging to another is thu$ 190,981. The item301 whicht ere ari Adn'nist of Tas consid rable portion of
Th most serious
the decr as3s are less aun rou1.
ex es of this yar's or lat
y ar's Estimat's not accounted for by the two it. mas I have mentioned is due to new subordinate appo'ntments that have been o vated and to an improved scheme of salaries that has been a lopty in the hopes of i: o easing t s oficù ny affects the of this Depar ment which so conveniency of the public.' I sbal ́explain precisely to you this revised scheme of salaries. A special exätitar) of:$15,90) ·inou red in 1915 in the purchase of a steam-launch n ei not of cours, be repatol in1906. You will obsɔrv3
THE ESTIMATES.
The COLONIAL SECRETARY mored the first reading of a Bill entitled, An Ordinance to apply a sam exceeding fire million seven hundred and seventeen thousand two huuired and seventy- six dollars to the Public Service of the year 1906, The COLONIAL TREASURER Seconded the motion.
HIS EXCELLENCY -Goutlemsa, before pat- ting to the vole the motion of the Ho our ibls the Colonial Secretary, I propɔšš to explain to you bri fy the probabl› financial_position on the 31st December, 1905, the Estimats of Revenue for the year 1996, the Estimates of Expenditure for the sans year and this fia meil position which will res ilt if thỏ we estimates are realised. I shall then give you sonifigures with regard to the allotment of the expɔ iditure a id explain my reasons for certain alterations in scilos of salaries that are being intro lucsd. shall conolude my remarks by a few brief raferences to the general po'iy which will gdile the framing of the Estimates in the years immediately in front of us.
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increas
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is a diminution of $15,000 a mon h or $180,0)) for the year of the payment for the Opium Farm. This relacion was granted from Novembe 1914, after vary oseful investiga- tion and full oɔ̃ultation with the Executive Council $100,000 less is estimated to by po- duc d by laul siles, our anticipations in 1905 under this heading not having bɔsu ralis d.. It is possible that the determination of the trick of the Railway throug Kowlooi my result in the redused estimate of $499,900 for 1905 being
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