PUBLIC DEBT.
8. The Inscribed Stock Loans of 1893 and 1906 amount to £1,485,732 and the Sinking Fund now stands at £283,602 being £25,440 more than the amount at credit of that fund at the end of 1917.
The local Loan (under Ordinance No. 12 of 1916) stands at $3,000,000 with a Sinking Fund of $212,000 and £33,300 sterling.
GENERAL REMARKS.
9. There was no alteration of importance during 1918 in taxation.
10. The total receipts and payments in the Treasury books during the year were $48,830,448 and $47,839,186 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 31st December were as follows:-
50 cents, $10,744 20 73,961 10 773,878 5 ... Copper, ... + 145,777 3,962 $1,008,322The nominal amount of coins in circulation is $20,764,370, and the market value is now practically par.
12. The local circulation in December of notes of the three Banks having authorized issues was as follows :-
Hongkong & Shanghai Bank, $22,401,355 Chartered Bank of India, Australia & China, 8,718,777 Mercantile Bank of India, 1,098,380 $32,218,512 The specie in Reserve came to $22,559,00013. The rate of exchange for the Estimates was taken at 2– whereas the average rate for purposes of conversion in the Treasury books was 3/21.
C. McI. MESSER,
Treasurer.
16th May, 1919.
- (A 1) 3 -
PUBLIC DEBT.
8. The Inscribed Stock Loans of 1893 and 1906 amount to £1,485,732 and the Sinking Fund now stands at £283,602 being £25,440 more than the amount at credit of that fund at the end of 1917.
The local Loan (under Ordinance No. 12 of 1916) stands at $3,000,000 with a Sinking Find of $212,000 and £33,300 sterling.
GENERAL REMARKS.
9. There was no alteration of importance during 1918 in taxation.
10. The total receipts and payments in the Treasury books during the year were $48,830,448 and $47,839,186 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 31st December were as follows:-
50 cents,
20
10
17
...
....
***
A
$ 10,744 73,961 773,878
5 Copper,
...
+
145,777
3,962
$1,008,322
The nominal amount of coius in circulation is $20,764,370, and the market value is now practically par.
12. 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,
The specie in Reserve came to
...
...
...
$22,401,355
8,718,777
1,098,380
$32,218,512
$22,559,000
13. The rate of exchange for the Estimates was taken at 2– whereas the average rate for purposes of conversion in the Treasury books was 3/21.
C. McI. MESSER,
Treasurer.
16th May, 1919.
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