The amount of the consolidated loan stands at £1,485,733. Against this there is at credit of the Sinking Fund a sum of £310,469. The Local Loan under Ordinance No. 12 of 1916 amounts to $3,000,000 and there are the sums of $224,720 and £80,628 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. This was discontinued on the 30th June.
A new valuation was made for the year commencing 1st July, 1919, resulting as follows:-
Increases:
The City of Victoria, $408,765.
The Hill District, $18,550.
Shaukiwan, Saiwanho, and Quarry Bay, $3,965.
Hongkong Villages, $29,368.
Yaumati, $1,635.
Mongkoktsui, $41,755.
Kowloon Point, $62,265.
Hung Hom and Hok Un, $76,385.
New Kowloon, $18,347.
Kowloon Villages, $5,030.
The rateable value of the whole Colony amounted to $16,304,801 being an increase of $666,065.
For the period 1910-1919 the assessment of the whole Colony has risen from $11,082,179 to $16,304,801, an increase in rateable value of $5,222,622.
The circulation on the 31st December of notes of the three Banks having authorised issues was as follows:--
Hongkong & Shanghai Banking Corporation, $24,874,290 Chartered Bank of India, Australia, & China, $10,454,944 Mercantile Bank of India, Limited, $969,276 $36,298,510The currency of the Colony consists, in addition to the notes of these Banks, of British, Hongkong, and Mexican Dollars and of subsidiary coin, which continued at par throughout the year.
The total issue of subsidiary coins less those demonetized, now amounts to $20,764,370 nominal value, and they were up to the year 1905 readily absorbed at par, large quantities being taken by the neighbouring provinces of China. During 1916 ten cent pieces of the face value of $5,028,000 were shipped to Calcutta for purposes...