Hongkong, Oct. 13.
The Budget, calling for a record expenditure of $38,500,000 and a revenue of $36,000,000, with an estimated deficit of $2,500,000, was introduced it the Legislative Council today.
The Government expects the current financial year to -end with a small surplus, which is, however, illusory, as by the end of the year Hongkong will be owing nearly $1,000,000 in military contributions, which must be paid next year.
Though there are many increases im expenditure, the Government has found it possible to frame the estimates without the necessity of proposing new or increased taxation.
Mr, Sidney Came, Financial Secretary and Treasurer, in introducing the Estimates, forecast that the Colony Budget must soon reach $40,000,000, as expenditure showed signs of creasing, instead of decreasing.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.