Page:Statesman's Year-Book 1913.djvu/239

 DEFENCE — INDUSTRY, COMMERCE AND SHIPPING 117

Year

Revenue

Expenditure

1907 1908 1909 1910 1911

£ 708,370 527,760 573,319 009,076 679,436

£

617,700 685,569 549,780 604.372 641,369

The revenue is derived chiefly from land, taxes, licences, quarry rent, liquor duties, and an opium monopoly, which together more than cover the expenses of administration. A large portion of the expenditure has to be devoted to the maintenance of a strong police force. Expenditure on establishments in 1911, 3,662,531 dols. (331,916/.).

Public debt, 341,800Z., raised in 1887 and 1893 for public works. Another loan, 1,]43,933Z. in Inscribed Stock at 3^ per cent., was raised in 1906 for purposes of railway construction. On December 31, 1911, the assets of the colony exceeded its liabilities by 1,826,978 dols. (165,570/.).

Defence.

The military contribution payable to the Imperial Government was 1,342,554 dols. (121,668/.) for 1911. The volunteer corps cost 48,014 dols. (4,351?.) for 1911. Hong Kong is the headquarters of the China Squadron.

Industry, Commerce and Shipping.

The chief industries of Hong Kong are cotton-spinning, sugar refining, ship-building and repairing, rope-making, the manufacture of cement, and now brewing, and the manufacture of knit goods. Deep-sea fishing is important, especially for the New Territories,

The commerce of Hong Kong is chiefly with Great Britain (about one-half of the total imports and exports), India. Australia, the United States, and Germany. Hong Kong is a free port (except as regards the importation of intoxicating liquor), and there are no official returns of trade, but only mercantile estimates, according to which the imports average four, and the exports two millions sterling. Hong Kong is the centre of trade in many kinds of goods. Among the principal are opium, sugar and flour, salt, earthenware, oil, amber, cotton and cotton goods, sandal wood, rice, coal, timber, hemp, bulk and case oil (kerosene), ivory, betel, vegetables, live stock, granite, &c. The Chinese tea and silk trade is largely in the hands of Hong Kong firms.

The trade between Hong Kong and the United Kingdom (Board of Trade returns) for five years is given as follows : —

Imports (consignments)

into Gt. Britain from

Hong Kong ....

Exports of British Pi*o-

dnce to Hong Kong.

1908

£ 510,495 2,901,465

1909

£

455,674 3,567,350

1910

£ 596,402 3,617,728

1911

£ 734,628 2,789,328

1912

£ 843,225 3,541,524