10. The total receipts and payments in the Treasury books during the year were $30,644,075 and $27,382,796 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 30th December were as follows:---
50 cents, $ 9,642.00 20 ¢ 123,415.20 Copper, 142,066.40 21,297.96 $296,421.56Against this however there was an advance by the Bank of $14,137.90 in 10 cent pieces which makes the balance of the stock on the above date $282,283.66.
Coins were demonetized to the face value of $5,028,000 all in ten cent pieces during the year. The balance of coins in circulation is now $21,264,370.
12. The discount on subsidiary coin compared with the Silver Dollar entirely disappeared in the latter half of 1916. The maximum discount in each case earlier in the year was as follows:
50 cent-pieces 7 per cent. 10 ¢ 9 ,, 20 ¢ 15 ,, Copper. 5 ,, par.There was also a complete change in the relation between Silver Dollars and Bank Notes. Whereas in 1915 the premium on the latter ranged from 4% to 10%, the great demand for silver in Europe and elsewhere caused notes to fall to par value towards the close of the year.
13. The local circulation in December of notes of the three Banks having authorized issues was as follows:—
Hongkong & Shanghai Bank, $25,025,355 Chartered Bank of India, Australia & China, 7,765,117 Mercantile Bank of India, 950,577 $33,741,04914. The rate of exchange for the Estimates was taken at 1/9 whereas the average rate for purposes of conversion in the Treasury books was 2/14.
A. M. THOMSON,
Treasurer.
30th March, 1917.
A (1) 3 -
10. The total receipts and payments in the Treasury books during the year were $30,644,075 and $27,382,796 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 30th December were as follows:---
50 cents,
20 5
Copper,
$ 9,642.00
123,415.20
142,066.40
21,297.96
$296,421.56
Against this however there was an advance by the Bank of $14,137.90 in 10 cent pieces which makes the balance of the stock on the above date $282,283.66.
Coins were demonetized to the face value of $5,028,000 all in ten cent pieces during the year. The balance of coins in circulation. is now $21,264,370.
12. The discount on subsidiary coin compared with the Silver Dollar entirely disappeared in the latter half of 1916. The maximum discount in each case earlier in the year was as follows:
50 cent-pieces 7 per cent.
10
20
10
,,
"
10
""
>>
9
15
5
Copper.
"
par.
There was also a complete change in the relation between Silver Dollars and Bank Notes. Whereas in 1915 the premium on the latter ranged from 4% to 10%, the great demand for silver in Europe and elsewhere caused notes to fall to par value towards the close of the
year.
13. The local circulation in December of notes of the three Banks having authorized issues was as follows:—
Hongkong & Shanghai Bank,
Chartered Bank of India, Australia & China, Mercantile Bank of India,
$25,025,355
7,765,117 950,577
$33,741,049
14. The rate of exchange for the Estimates was taken at 19 whereas the average rate for purposes of conversion in the Treasury books was 2/14.
A. M. THOMSON,
Treasurer.
30th March, 1917.
No comments yet.
Private notes are available after approval.