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the lowest in the world, and compares with an estimated 10 in Europe, 18 in Asia, and 15 in the World (see paragraph 162). The infant mortality rate dropped by 2.57 to 23.03 per 1,000 live births, continuing a downward trend broken only twice since 1950, when the rate was 99.6.
Revenue and Expenditure
16. As compared with 1967-68 the grand total of the Department's contribution to the revenue of the Colony was up by $2,118,337 to $6,104,170, this being due mainly to an increase of $1,673,000 in Companies registration fees because of substantial increases in the nominal capital of several large companies, and a rise of $269,000 in Land Office fees as a result of the substantial increase in the number of instruments registered. These increases were to some extent offset by decreases of $26,000 and $53,000 in the Births and Deaths Registries and the Official Receiver's Office. The Companies Liquidation Account investments showed an increased return of $104,000, but the previous year's figures had been reduced by the losses arising from the devalua- tion of sterling. Total revenue exceeded the approved estimates by $1,675,000. The full Statement of Revenue is set out in Table III.
17. On the other side of the account the Department's actual expenditure of $5,431,429 was $310,171 less than the approved estimate of $5,741,600. The major cause of the underspending was the delay in implementing the new microfilming project at an estimated cost of $245,000. The $5,431,429 does not, however, represent the total cost of running the Department. To arrive at that one would have to add the cost of the Government accommodation occupied and a sum representing the value of pensions and other 'fringe' benefits. On the other hand, it should be borne in mind that the Marriage and Births and Deaths Registries are as a matter of policy not run on a self- supporting basis, and the fees charged therein represent only a fraction of the cost of running these Registries.
Functions
PART II
LAND OFFICE
18. The Land Office is responsible for the registration of all instru- ments affecting land, the settling and registration of Conditions of Sale, Grant and Exchange of Crown land, the issue, renewal, variation and
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