The following is a statement of the revenue and expenditure of the Colony for the five years 1914-1918--
Year Revenue Expenditure 1914 11,007,273 10,756,225 1915 - 15,149,267 1916 13,833,387 11,079,915 1917 15,058,105 14,090,828 1918 18,665,248 16,252,172The amount of the consolidated loan stands at £1,485,733. Against this there is at credit of the Sinking Fund a sum of £283,602. The Local Loan under Ordinance No. 12 of 1916 amounts to $3,000,000 and there are the sums of $212,000 and £33,300 at credit of the Sinking Fund.
Under Ordinance No. 18 of 1917 a tax of 7% on Assessments was imposed to provide an Annual Contribution to the Imperial Government for purposes of the war.
A new valuation was made for the year commencing 1st July, 1918, resulting as follows:-
District Increase Percentage The City of Victoria $978,880 8.31% Shaukiwan, Saiwanho, and Quarry Bay $11,007 2.79% Hongkong Villages $29,042 13.72% Yaumati $84,780 24.12% Mongkoktsui $64,600 28.83% Kowloon Point $14,735 2.32% Hung Hom and Hok Un $20,050 6.71% New Kowloon $13,736 12.37% Kowloon Villages $13,128 13.91% The Hill District $1,375 -0.42%The rateable value of the whole Colony amounted to $15,638,736 being an increase of $1,228,583 or 8.52%.
For the period 1909-1918 the assessment of the whole Colony has risen from $10,750,902 to $15,638,736, an increase in rateable value of 45.53%.
The circulation on the 31st December of notes of the three Banks having authorised issues was as follows:-
Bank Amount Hongkong & Shanghai Bank $22,401,355 Chartered Bank of India, Australia, & China $8,718,777 Mercantile Bank of India $1,098,380 Total $32,218,512