Total revenue, exclusive of Land! Sales, was $43,007,004, against $29,- 718,163 in 1038. For the first time in many years Land Sales (Premia on New Leases) showed an increase, the Fevenue of $5°8463 representing a 98)
cent. increase over 1936. Re-Venue from this source was expected to yield only $206,000.
In view of the heavy increase in Expenditure, it is fortunate for the Colony that revenue proved 50
Expenditure of $29,513,520 in 1936 was exceeded last year by $2,587,702, principal increases being in Military Contributions, Public Works (Recurrent), the Medical Department, and the Post Office.
Military Contributions touched a new all-time record of $5,588,415, to which must be added "$183,373 for the Hongkong Volunteer Defence Corps (an increase of $15,605 over 1936) and $39,220 for the Naval Volunteer Force (an increase of $6,924 over 1936).
Pensions also reached a new record, totalling $2,559,800 as compared with' $2,267,745 in 1996.
Text read from the printed page and cleaned; old type leaves the occasional error.