7. The following table shows the Revenue and Expenditure during the last five years: —
1922 1923 1924 1925 1926 Revenue $22,291,065 $24,783,763 $24,209,640 $23,244,365 $21,131,582 Expenditure $18,563,003 $21,571,905 $26,726,428 $28,266,817 $23,524,716 Surplus $3,728,062 $3,211,858 Deficit $2,516,788 $5,022,452 $2,393,134PUBLIC DEBT.
8. The Inscribed Stock Loans of 1893 and 1906 amounted to £1,485,733 and the Sinking Fund stood at £533,787 being £39,004 more than the amount at credit of that fund at the end of 1925.
The local Loan (under Ordinance No. 12 of 1916) stood at $3,000,000 with a Sinking Fund of $1,834,928 and £120,653 sterling.
GENERAL REMARKS.
9. The total receipts and payments in the Treasury books during the year were $40,012,221 and $40,867,412 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.
10. Subsidiary coins in stock on 31st December were as follows:-
50 cents $10,700 20 cents $44,456 10 cents $1,464,319 5 cents $264,902 1 cent (Copper) $31,882 Total $1,816,259Orders were placed with the Royal Mint for a further supply of 2,500,000 Copper one cent coins which were taken on stock during the year.
The nominal amount of coins in circulation was $17,914,870 and the market value stood practically at par.