A (1) 3
GENERAL REMARKS.
9. The only alteration of importance during 1917 in taxation was the enactment of Ordinance No. 18 to provide an annual contribution by the Colony towards the expenses of the war.
10. The total receipts and payments in the Treasury books during the year were $28,127,621 and $27,620,396 respectively. The figures not accounted for under revenue and expenditure relate to transactions under various heads such as Deposits, Advances, Subsidiary Coin, Unallocated Stores, etc.
11. Subsidiary coins in stock on the 31st December were as follows:
50 cents, $ 8,146.00 20 86,454.00 10 1,080,119.00 Copper, 159,078.00 12,087.00 $ 1,345,884.00The nominal amount of coins in circulation is $21,264,370, and the market value is now practically par.
12. The local circulation in December of notes of the three Banks having authorized issues was as follows:
Hongkong & Shanghai Bank, $21,433,096 Chartered Bank of India, Australia & China, 6,577,429 Mercantile Bank of India, 1,149,504 $29,160,029The specie in Reserve came to $22,550,000.
13. The rate of exchange for the Estimates was taken at 1/11 whereas the average rate for purposes of conversion in the Treasury books was 2/74.
9th May 1918.
A. M. THOMSON, Treasurer,