A (1) 3
The local Loan (under Ordinance No. 12 of 1916) stands at $3,000,000 with a Sinking Fund of $664,495 and £89,093 sterling.
GENERAL REMARKS.
9. Stamp duties were increased at the beginning of May by the new Stamp Ordinance No. 8 of 1921. Liquor and Tobacco duties were also raised in April
10. The total receipts and payments in the Treasury books during the year were $33,343,922 and $33,078,068 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:-
10 cents, ... ... 17
5 Copper, ... ...
$1,486,972 61,600 13,807
1,562,379
The nominal amount of coins in circulation is $20,789,370, 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 Banking Corporation, ... $40,395,225
Chartered Bank of India, Australia & China,
Mercantile Bank of India, Limited, ...
9,074,137
1,321,503
$50,790,865
$33,200,000
The specie in Reserve came to,
13. The rate of exchange for the Estimates was taken at 3/4 whereas the average rate for purposes of conversion in the Treasury books was 2/8.
C. Mol. MESSER,
Treasurer.
16th May, 1922.