The amount of the consolidated loan stands at £1,485,733. Against this there is at credit of the Sinking Fund a sum of £399,591. The Local Loan under Ordinance No. 12 of 1916 amounts to $3,000,000 and there are the sums of $906,699 and £93,657 at credit of the Sinking Fund.
A new valuation for Assessment was made for the year commencing 1st July, 1922, resulting as follows:-
Increases :-
The City of Victoria $722,943
The Hill District 18,765
Shaukiwan, Saiwanho and Quarry Bay 29,375
Hongkong Villages 54,205
Kowloon Point 51,130
Yaumati 95,940
Mongkoktsui 39,490
Hunghom and Hok Un ... 27,460
Kowloon Villages ... 15,570
New Territories 54,391
The rateable value of the whole Colony amounted to $19,805,929 having increased by $1,109,269.
During the period 1913-1922 the assessment of the whole Colony has risen from $12,435,812 to $19,805,929, an increase in rateable value of $7,370,117.
The circulation on the 31st December of notes of the three Banks having authorised issues was as follows:-
Hongkong & Shanghai Banking Corporation $34,974,774
Chartered Bank of India, Australia, & China ... 11,239,602
Mercantile Bank of India, Limited 1,364,413
47,578,789
The 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 $18,789,370 nominal value, and they were up to the