-A (1) 6
The nominal amount of coins in circulation was $17,914,370 and the market value stood practically at par.
11. The local circulation of notes and Specie in Reserve of the three Banks having authorised issues were as follows on 31st December:-
Notes in Circulation. Specie in Reserve. Hong Kong & Shanghai Banking Corporation $47,195,645 $34,000,000 Chartered Bank of India, Australia and China 15,755,477 5,800,000 Mercantile Bank of India... 1,855,310 660,000 $64,806,432 $40,460,00012. The rate of exchange for the Estimates was taken at 2/--and this proved to be the average rate for purpose of conversion in the Treasury books.
21st April, 1928.
C. McI. MESSER.
Treasurer.