A (1) 3.
7. The following table shows the Revenue and Expenditure during the last five years :-
Revenue Expenditure Surplus Deficit 1919 $16,524,975 $14,689,672 $1,835,303 1920 $17,728,132 $17,915,925 $187,793 1921 $14,489,594 $15,739,652 $1,250,058 1922 $22,291,065 $18,563,003 $3,728,062 1923 $24,783,763 $21,571,905 $3,211,8588. The Inscribed Stock Loans of 1893 and 1906 amount to £1,485,733 and the Sinking Fund now stands at £432,592 being £33,001 more than the amount at credit of that fund at the end of 1922.
The local Loan (under Ordinance No. 12 of 1916) stands at $3,000,000 with a Sinking Fund of $1,176,086 and £98,441 sterling.
GENERAL REMARKS.
9. The total receipts and payments in the Treasury books during the year were $68,076,489 and $67,531,781 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.
10. Subsidiary coins in stock on the 31st December were as follows:-
50 cents ... ... 3,000 20 ** ... 40,190 10 ... ... 665,260 5 ... ... 375,835 Copper ... ... 13,068 $1,097,353The nominal amount of coins in circulation is $17,814,370 and the market value is now practically par.
11. The local circulation in December of notes of the three Banks having authorized issues was as follows:-
Hongkong & Shanghai Banking Corporation $44,681,129 Chartered Bank of India, Australia & China 12,837,330 Mercantile Bank of India, Limited 1,455,649 $58,974,108 The specie in Reserve came to $36,150,00012. The rate of exchange for the Estimates was taken at 2/4 whereas the average rate for purposes of conversion in the Treasury books was 2/3¼.
6th May, 1924.
C. McI. MESSER.
Treasurer.
A (1) 3.
7. The following table shows the Revenue and Expenditure
during the last five years :-
Revenue..
Expenditure, Surplus,
1919. $
$
8 16,524,975 14,689,672 17,728,132 17,915,925 14,489,594 15,739,652 200,078 1,988,480
1920.
1921.
1922.
1923.
$
$
22,291,065
24,783,763
18,563,003
21,571,905
3,728,062
3,211,858
Deficit,
1,390,950
PUBLIC DEBT.
8. The Inscribed Stock Loans of 1893 and 1906 amount to £1,485,733 and the Sinking Fund now stands at £432,592 being £33,001 more than the amount at credit of that fund at the end of 1922.
The local Loan (under Ordinance No. 12 of 1916) stands at $3,000,000 with a Sinking Fund of $1,176,086 and £98,441 sterling. GENERAL REMARKS.
9. The total receipts and payments in the Treasury books during the year were $68,076,489 and 67,531,781 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.
10. Subsidiary coins in stock on the 31st December were as follows:-
50 cents
...
...
20
**
10
5
>>
""
Copper
...
...
+
...
...
...
•
3,000 40,190
665,260
375,835
13,068
$1,097,353
The nominal amount of coins in circulation is $17,814,370 and the market value is now practically par.
11. The local circulation in December of notes of the three Banks having authorized issues was as follows:-
Hougkong & Shanghai Banking Corporation,...$44,681,129 Chartered Bank of India, Australia & China, Mercantile Bank of India, Limited,...
...
...
...
12,837,330 1,455,649
The specie in Reserve came to,
...
...
$58,974,108
...$36,150,000
12. The rate of exchange for the Estimates was taken at 2/4 whereas the average rate for purposes of conversion in the Treasury books was 2/34.
6th May, 1924.
C. McI. MESSER.
Treasurer.
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