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166..
THE HONGKONG WEEKLY PRESS AND
(September 17, 1906.
on
more owing to expenditure having been less than estimated. The net result of this is that at the end of the year 1906 we shall be $122,000 better off, than we anticipated when the estimates for 1908 were introduced. We then expected a surplus of $622,402 on 31st December 1906; we now expect a surplus of $744,573. Passing from our probable financial position at the end of this year to the conditions that we anticipate for next year, and dealing in the first instance with ordinary revenue there will be a decrease of $490,000 on the proceeds of the Opium Farm. This farm, which at present is lat at $170,000 a month, or $2,040,000 a year has been let for the next three year term at $121,000 a month or $1,452,000 & year. This is equivalent to a $588,000 reduction in a year, | but as the new farm only commences from the 1st March the actual reduction of revenue from this source in 1907 will be $490,000. I regret this reduction, not only on account of the loss of revenue, but because I am satisfied that with | the lower price paid for the Opium Farm the cost of the drug will be less and its consumption greater. The next item of revenue on which there will be a reduction is that for subsidiary coin. The item of $120,000 which appear ed in the estimates for 1906 disappears in those for 1907, and I shall be very much surprised if it ever appears again. I am doubtful, more than doubtful, whether this Colony was justified in sending into China some $40,000,000 nominal worth of coins which had a value less than their face value. At any rate this action has had the not unnatural result of inducing the Chinese to attempt to make their own profits from minting operations. Their operations in this direction have been on a very much larger scale than ours and have had the result of substituting the twenty. cent. piece for the dollar as a standard of value in South China, and incidentally of dragging down the dollar value of the subsidiary cons of this Colony. This Government has made representations both to the Viceroy and to the metropolitan authorities of China with regard to the very serious affect on trade that their large issues of subsidiary money have had and will continue to have, and from a communication I have received from the Consul-General at Can-at $6,448,025, and the expenditure at ton I believe the representations have not been 86,441,748, leaving a surplus of $16,285.|| without effect. I think the Chinese authorities Passing now to details of expenditure there is now realise what a disastrous thing it is to lower an increase in the charges on account of public|| the value of the currency and will stop the issue. debt of $38,500 due to our having to pay Having induced them to do that, of course it is interest on the first instalment of the rail- out of the question for us to do what we have way loan of £110,000 at 3 per cent. This persuaded them not to do (applause). Those are addition is partly counterbalanced by interest the two big items of reduction in revenue-the and sinking fund on the 1891 loan being cal. Opium Farm and subsidiary coin-amounting culated at 2 instead of 1/8 exchange which altogether to $610,000. Then there are results in a decrease of $30,82) and leaves a reductions in three items indicating a cost increase on the vote of 87,800. In civil stagnation of trade: $10,000 in permits for pensions there is a decrease of $16,094. This is Sunday cargo working; $9,000 in storage of not a decrease, gentlemen, which we can view gunpowder liosno 38; and 88,450 in pawn. with any satisfaction because it comes from the brokers licences. There is also a reduction of death during the past year of some old and valued $7,800 in the amount we are to receive servants of the Colony. Sir William Marsh for the sale of timber. We have given administered the Government on various effect, and are continuing to give effect, to occasions, amounting altogether to two and a the Colony's ory of two years ago "Woodman half years, in the troublous times which followed spare the tree," but I am doubtful whether Sir John Pope Hennessey's administration, shall not presently have to modify and also after George Bowen left the that policy. I was struck very much by Colony. Sir George O'Brien occupied the & conversation I had a little while ago with the place now held by my hon. friend on the Deputy Inspector-General of Naval Hospitals left. Mr. Desne was for very many who informed me that he was cutting down all years Captain. Superintendent of Police, the trees about the Naval Hospital as he found sad it is on record how well he did his duty in that after 20 years they died." I have noticed that position. These officers, whose names are myself in several parts of the Colony dead trees all on the obituary list, were not known to most and we shall have to be careful we do not get the of us, but nearly all of us knew Mr. Bruce island covered with forests of dead wood. In Shepherd and will regret that he has been spared the meantime we anticipate very little revenue so short a time to enjoy his will earned pension. this year from the sale of timber. Another In addition to this decrease there is a further item from which we shall get less than last year one of 86,600 owing to it not being neces- is the conservancy contract which has been let sary to make provision for payments on account for $5,76) less than last year. Then there are of the Widows and Orphans Pension Fund. On thirty-one items in which there are decreases all the other hand there is an increase of $1,000 under $5,000. These decreases amount altogether in police pensions, the net result being a to $24,720 and with those which I have given decrease ID: the vote "*for pensions of in detail, show a total falling off of $675,030. | $21,694. On vote 3, there is a decrease of On the other hand there are some items of $13,200 owing to higher exchange on the ordinary revenue from which we anticipate ao salaries of Governor and staff. There is
· increase. On the assessed taxes We ex- a further small decrease of $362 due poot a farther $20,000 due to new buildings to minor alterations in the establishment and improvements in buildings. $20,000 of constables and watchmen. There is an more is put down for stamps, based on the increase of $1.000 for the renewal receipts for the current year. $18,000 has been furniture at Government House, the net added to the amount for junk licences due to decrease on the whole vote being $12,562, the abolition of surities and altering of fees to In the Colonial Secretary's Department there
which I alluded on a previous occasion. An is a decrease of $5 336 due to higher exchange additional $10,000 is due to the opening of the | on the salaries of the Colonial Secretary's staff new Western and Mongkoktsui markets. There less a small sum due to increments and are additions to the items for slaughter house, additional telegraph clerk. There de- fees of $9,500; for Post Office receipts of $8,200; crease of $1,823 due to higher excha and for New Territory Land revenue of $8,000, the salaries of cadeta, with an the last being due to the revision of the rent $180 for minor alterations in other charges roll this year. There are also 34 items with the net decrease becomes $6,470. In the increases of less than $5,000, amounting Registrar General's Department higher ex- altogether to 830,960. The total incresses | change
less stipulated increments од amount to $121,66), which deducted from the sterling salaries results, in decrease of total decreases amounting to $675,030, $2,850. There is a decrease of $2,190 from show & net decrease in the ordinary the re-organisation of the subordinate staff revenue of $550,370. In extraordinary revenue, and the substitution of a Portuguese for an as the item Widows and Orphans Pension Fund English clerk, and the census to be taken no longer appears, there will be a decrease of this year, being mainly provided for in this $249,000, and we anticipate only getting about ( year's extimates, causes a further decrease of $300,000 for land sales, which meanss decrease on $2,610. For minor alterations in other charges that item of $100,000, so that the total decrease there is. a decrease of $391, the total decrease in extraordinary revenue will be $394,000, which on the vote being $3,0 1. in the Auditor's added to the total decrease in ordinary revenue, Department there is a decrease of $2,190 due $550,370, gives a total decrease in the revenue to higher exchange on the salaries of the local of $899,370, or very nearly $900,000. Last year auditor and assistant local auditor and home the total revenue was 87,347,395; this year we charges, and an increase of $675 caused by the estimate it at 86,448,025. This decrease is met substitution of an assistant local auditor for an by decreases in all the items of expenditure auditor's olerk. The net decrease is $1,515. except in the following six. The charges ob In the Treasury higher exchange on the salaries account of the public debt have incrassed. There reduces the estimate by $1,410. $3,000 has been is to be some special expenditure on the Post out out this year as it has not been necessary Office, and also on the Fire Brigade. The to make provision for the administration of the ecclesiastical and obaritable votes have been Widows and Orphans Pension Fund. On the increased, as well as those for miscellaneous other hand $2,400 has been added 88 services and for recurrent public works I will deal presently with the details of the variations Territories for exercising some supervision payments to police sergeants in the New
under each head the estimates. The increases over the work of shroffa there. We have I have mentioned amount to $59,406; the suffered this year from a very serious defalcation, decreases on all the remaining votes to :333,521, and this provision for supervising is one leaving a net decrease in ordinary expenditure of the means We are taking to provide of $274,115. To make the revenue equal the against such occurrea039. An increase expenditure the public works extraordinary vote of $1,691 is due to the introduction of has been decreased by $35,100; the total the grading scheme, and to alterations in decrease in ordinary and
extraordinary the subordinate staff. $20 is for minor altera- expenditure is therefore $625,215. Whereas tions in other charges. The net decrease on the the expenditure in 1906 was 87,056,955, that Treasury vote is 83 119. In the Hongkong anticipated for 1907 is $6,431,140. To recapita Post Office higher exchange on the amount paid late in 1906 we had an estimated total revenue for mail subsidy results in a decrease of $25,058. of $7,347,395, and an estimated total expenditure] An increase in personal emolumente is due to of 87,056,955, which left us a sulas of дет scled of salaries provided for the $290,440. For 1907 we estimate the revenue Superintendents of the Money Order Office, of the Registration Parcels Branch, and the Superintendent of Mails, also to additions to the establishment of clerks. These increases amount to 89.019. There is also a small increase of $376 for minor alterations in other charges. The net result of this is that the Hougkong Post Office will cost $15,663 less next year than it did this. On the other hand Postal agencies in Chins will cost $13,243 more. This is mainly due to the provision of $12,898 for an agency in Tientsin. This agency was urged oa the authorities at home by the London Chamber of Commerce as being required for correspondence between Tientsin and London, and was sup- ported by the Chamber of Commerce here as tending to the convenience of British merchants in Chins, and therefore to the enhancing of British prestige. I have remarked that when British prestige is to be enhanced in Chins, and when Bom, expenditure is involved thereby, the Hongkong Government is called upon to bear that expenditure.
The larger part of this expenditure is dus to transit charges. The increase of $2,125 for the Post Ofos at Shanghai which was recently enlarged is for additional rents and taxes. 8686 is required in excess of last years vote on soconut of "minor changes in the personnel at Amoy, Canton, Hankow and Hoihow. A decrease of $2,466 is due to higher exchange and alterations in sterling salaries. The net result of these charges is that the Postal agencies of China will cost us $13,243 more next year than they are expected to do this. Under the Post Office vote there is a heading for special expenditure of $4,100 for engraving plates. The purchase of these plates is expected to 8873 an expenditure of some
We
of
£280
a year. The net result of the decrease in the Hongkong Post Office Items, of the increase of expenditure on postal agencies in Chins, and the special expenditure, is to increase the total Post Office vote by $1,680. In the Harbour Department estimate the
of $15,400 expenditure
од buoys is omitted, the work having been completed in the current year. There is a decrease of $5,527 due to higher exchange and changes in
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