A (1) 4
Coins of the face value of $5,000,000 all in 10 cent pieces were sent to England during the year for purpose of demonetization.
15. The limits between which the rates of discount ranged were:-
50 cent-pieces 14 per cent. to 13 per cent.
20 cent-pieces 11 per cent. to 10 per cent.
10 cent-pieces 5 per cent. to 4 per cent.
5 cent-pieces par. to 11 per cent.
Copper cents 22 per cent. to 21½ per cent.
"" 191 per cent. to 199 per cent.
"" 14½ per cent.
On the 1st March, Ordinance No. 15 of 1913 prohibiting the circulation of foreign silver and nickel coins came into force and has effected the disappearance of foreign coins from circulation though owing to business depression and the War no permanent result has yet appeared in the way of decreasing the discount on the Colony's currency.
Owing to depression of trade silver dollars were in no great demand during the end of the year and consequently bank notes were at a premium ranging from 4% to 10%.
16. The circulation in December of notes of the three Banks having authorized issues was as follows:
Hongkong & Shanghai Bank, $23,482,903
Chartered Bank of India, Australia & China, $6,071,633
Mercantile Bank of India, $1,308,191
$30,862,727
A. M. THOMSON,
Treasurer.
9th April, 1915.
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