SHANGHAI, Tue preliminary issue by the Municipal Council' of a blue-book of some fifty pig's containing the timated revenue and expenditure in 1903, with the ren rks thereon the ontoing Coureil, aA very com-merelable innovation. fy gives the vepryers ple ime to under.
what it is to which they will ed 10 commit. themsel: tre this r of is. 1,179,500, and an traordinary expenditure of 1s, 535,700, or a total of T1s.1,715,200. That is, the cast of governing Shanghai, excluding the terri'o s-uth of the Yangkingpang whicl has its own Gonncil and Budget, nearly quadrupled in ten years. Itis possible that the strict ceonomiss might be able to reduce the estimates fur the present year here and there without any consequent luss of efficiency bu: Shanghai has grown so rapidly in the interval between its jubilee and ats diamond jubilee, that the increase in esti sis inevitable and a very large part of the expense is eansad by the necessity to prepare the Extension of the Settlement for the reception of the rapidly incre ing population.
We understand that any ratepayer who takes a serious interest in the
Text read from the printed page and cleaned; old type leaves the occasional error.