112 THE BRITISH EMPIRE: — HONG KONG
it is here taken at 2s., for 1914 at Is. lOJrf., for 1915 at Is. 9fd., for 1916 at 2s. ljd., for 1917 at 2s. 7±d., for 1918 at 3s. 2gi., for 1919 at 3s. 8$d.
Tear
Revenue
Expenditure
£
£
1913 (pre-war)
S51.230
865,801
1915
1,063,111
1,372,902
1916
1,455,388
1,165,700
1917
1,960,690
1,834,743
1918
3,013,676
2,624,027
1919
3,081,220
3,340.574
The revenue is derived chiefly from land, taxes, licences, quarry rent, liquor and tobacco duties, and an opium monopoly, which together more than cover the expenses of administration, except in the year 1915. A large portion of the expenditure has to be devoted to the maintenance of a strong police force. Expenditure on establishments in 1919, 4,709,340 dollars. The estimates for 1920 are: revenue, 15,314,800 dollars; expenditure, 14,886,473 dollars.
Public debt, 341,8002., raised in 1887 and 1893 for public -works. Another loan, 1,143,9332. in Inscribed Stock at 3£ per cent., was raised in 1906 for purposes of railway construction, also a 6 per cent. War Loan of 3,000,000 dollars was authorised. On December 31, 1919, the balance of assets over liabilities was 4,290,188 dollars (799,9412.).
Defence.
The military contribution payable to the Imperial Government was 3,552,939 dollars for 1919. The Defence Corps cost 27,525 dollars foi 1919. Hong Kong is the headquarters of the China Squadron.
Industry, Commerce, Shipping, and Communications.
The chief industries of Hong Kong are sugar refining, ship-building and repairing, rope-making, tin refining, tobacco manufacture, the manufacture of cement, 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, India and Ceylon, Australia, United States, China, Japan, Indo-China, and Siam. Hong Kong is a free port (except as regards the importation of intoxicating liquor and tobacco). There were no complete official returns of trade prior to 1918, but complete trade and shipping returns are now officially compiled and published quarterly and annually. Hong Kong is the centre of trade in many kinds of goods. Among the principal are sugar ami flour, rice, cotton, cotton yarn and cotton piece goods, silk, hemp, leather, tin. wolframite, bulk and case oil (kerosine), oils and fata, peanuts, Chinese medicines, fish and fishery products, tea, coal, cement, condensed milk, matches. The Chinese tea and silk trade is largely in the hands of Hong Kong firms.
Imports into Hong Kong in 1919 : from the British Umpire, 19.7 16,0102. (United Kingdom only, 5,129,7842.); from foreign countries, 70,905,6982. ; total imports, 90,651,7082. Export* from Hong Kong in 1919 : to the British Empire, 18,993,1452. (United Kindgdom only, 2,698,8132.) ; to China and Japan, 62,649,7842. ; to other foreign countries, 22,300,0052. ; total exports, 103,942,9842.
