E 7
clarations being received in 1394 as compared with 586,046 in 1933, and 40,175 manifests as compared with 47,016. The number of Junk manifests received totalled 16,469 in 1934 as compared with 21,937 in 1933.
28. On account of the dilatoriness of several business firms in the Colony it was found necessary, after repeated warnings, to take steps to enforce compliance with the provisions of the Registration of Imports and Exports Ordinance, 1922, and some 120 firms were fined by the First Police Magistrate for failing to declare their imports or exports within the required period. Following the prosecutions there was a noticeable improvement, which was sustained until the end of the year.
29. As in 1933 the trade figures were vitiated to some extent by concealed imports of Gold which were apparently smuggled out of China into Hong Kong for ultimate export abroad. Such imports could not be traced for inclusion in the trade returns, but it can be reasonably presumed that they formed the bulk of the export excess of $56.2 millions in 1934. The excess export of Gold in 1933 amounted to $82.9 millions.
30. In order to estimate with greater accuracy the actual volume of the trade of the Colony than is possible by a statement of values only, an index figure was constructed, taking the year 1931 as a base. Two hundred and two articles were selected, including the commonest which could be enumerated by quantity.
The comparison is given below :—
1931 Base year equals 100 compared with 100 by value.
1932 92.3 84.6
1933 89.1 67.9
1934 74.8 56.4
26th April, 1935.
E. W. HAMILTON,
Superintendent of Imports and Exports.