For the year commencing 1st July, 1916, the existing valuation was adopted, the difference in rateable value being the result of interim-assessments and appeals.
Increases.
The Hill District, $915 or 0.28%.
Shaukiwan, Saiwanho, and Quarry Bay, $4,615 or 1.20%.
Hongkong Villages, $32,206 or 18.61%.
Yaumati, $20,330 or 6.15%.
Mongkoktsui, $415 or 0.19%.
Kowloon Point, $11,050 or 1.81%.
New Kowloon, $1,990 or 1.91%.
Kowloon Villages, $3,190 or 3.51%.
Decreases.
The City of Victoria, $77,570 or 0.65%.
Hung Hom and Hok Un, $2,240 or 0.71%.
The rateable value of the whole Colony amounted to $14,282,186 being a decrease of $5,099 or 0.03%.
There were 187 appeals against the adopted assessments of 919 tenements, and reductions aggregating $197,220 in rateable value were made by order of the Court.
For the period 1907-1916 the assessment of the whole Colony has risen from $10,716,173 to $14,282,186, an increase in value of 33.27%.
The circulation on the 31st December of notes of the three Banks having authorised 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 $33,741,049The currency of the Colony consists, in addition to the notes of these Banks, of British, Hongkong, and Mexican Dollars and of subsidiary coin.
The rate of discount on Hongkong subsidiary coin disappeared during 1916. It ranged from 10% to par at the end of the year.
Bank notes also were at par value at the close of the year.
The total issue of subsidiary coins, less those demonetized, now amounts to $21,264,370 nominal value, and they were up to the year 1905 readily absorbed at par, large quantities being taken by the neighbouring provinces of China. During 1916 ten cent pieces of the face value of $5,028,000 were shipped to England for purposes of demonetization. The discount which has prevailed since 1905 may be attributed to the immense quantity of similar coin which has latterly been minted at Canton as well as to the amount of Hongkong coin minted largely in excess of the needs of the Colony by itself. In 1905 the Hongkong Government ceased to issue any subsidiary coin and in 1906 it began a policy of demonetising all its subsidiary coin received as revenue. This policy has been continuously followed since except during a brief period in 1911. Coin to the
For the year commencing 1st July, 1916, the existing valuation was adopted, the difference in rateable value being the result of interim-assessments and appeals.
Increases.
The Hill District, $915 or 0.28%.
Shaukiwan, Saiwanho, and Quarry Bay, $4,615 or 1·20%. Hongkong Villages, $32,206 or 1861%.
Yaumati, $20,330 or 6.15%.
Mongkoktsui, $415 or 0.19%.
Kowloon Point, $11,050 or 1.81%.
New Kowloon, $1,990 or 1.91%. Kowloon Villages, $3,190 or 3·51%.
Decreases.
The City of Victoria, $77,570 or 0·65%.
Hung Hom and Hok Un, $2,240 or 0·71%,
The rateable value of the whole Colony amounted to $14,282,186 being a decrease of $5,099 or 0·03%.
There were 187 appeals against the adopted assessments of 919 tenements, and reductions aggregating $197,220 in rateable value were made by order of the Court.
For the period 1907-1916 the assessment of the whole Colony has risen from $10,716,173 to $14,282,186, an increase in value of 33.27%.
The circulation on the 31st December of notes of the three Banks having authorised 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
The currency of the Colony consists, in addition to the notes of these Banks, of British, Hongkong, and Mexican Dollars and of subsidiary coin.
The rate of discount on Hongkong subsidiary coin disappeared during 1916. It ranged from 10% to par at the end of the year.
Bank notes also were at par value at the close of the year.
The total issue of subsidiary coins, less those demonetized, now amounts to $21,264,370 nominal value, and they were up to the year 1905 readily absorbed at par, large quantities being taken by the neighbouring provinces of China. During 1916 ten cent pieces of the face value of $5,028,000 were shipped to England for purposes of demonetization. The discount which has prevailed since 1905 may be attributed to the immense quantity of similar coin which has latterly been minted at Canton as well as to the amount of Hongkong coin minted largely in excess of the needs of the Colony by itself. In 1905 the Hongkong Government ceased to issue any subsidiary coin and in 1906 it began a policy of demonetising all its subsidary coin received as revenue. This policy has been continuous- ly followed since except during a brief period in 1911. Coin to the
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