28
Chapter XI.
BANKING, CURRENCY, WEIGHTS & MEASURES.
The Colony is well served by banking institutions. There are sixteen principal banks doing business in the Colony who are members of the Clearing House, and in addition several Chinese banks and numerous native Hongs doing some portion of banking business. There are no banks which devote themselves specially to agricultural and co-operative banking. The Hongkong and Shanghai Banking Corporation also conducts the business of the Hong Kong Savings Bank on usual savings bank principles.
2. The Currency of the Colony is based on silver and is governed by the Order in Council of 2nd February, 1895. The dollar, which is normally in circulation and which is legal tender to any amount, is the British Dollar of 900 millesimal fineness and weight 26.957 grammes (416.00 grains). Silver subsidiary coins of the value of 5, 10, 20 and 50 cents and one cent pieces in bronze are also legal tender up to the value of two dollars for silver and one dollar for bronze. Bank notes issued by The Hong Kong & Shanghai Bank, The Chartered Bank and The Mercantile Bank are also in circulation, the estimated amount issued at the end of 1931 being $154,631,822.
3. The weights and measures in use in the Colony are defined in the Schedule to Ordinance No. 2 of 1885. They consist of the standards in use in the United Kingdom and of the following Chinese Weights and Measures:-
1 fan (candareen) = 0.0133 ounces avoirdupois 1 tsin (mace) = 0.133 ounces avoirdupois 1 leung (tael) = 1.33 ounces avoirdupois 1 kan (catty) = 1.33 pounds avoirdupois 1 tam (picul) = 133.33 pounds avoirdupois 1 chek (foot) = 14.625 English inches divided into 10 tsun (inches) and each tsun into 10 fan or tenths.Page 30
Page 31
28
Chapter XI.
BANKING, CURRENCY, WEIGHTS & MEASURES.
The Colony is well served by banking institutions. There are sixteen principal banks doing business in the Colony who are members of the Clearing House, and in addition several Chinese banks and numerous native Hongs deing some portion of banking business. There are no banks which devote them- selves specially to agricultural and co-operative banking. The Hongkong and Shanghai Banking Corporation also conducts the business of the Hong Kong Savings Bank on usual savings bank principles.
2. The Currency of the Colony is based on silver and is governed by the Order in Council of 2nd February, 1895. The dollar, which is normally in circulation and which is legal tender to any amount, is the British Dollar of 900 millesimal fineness and weight 26.957 grammes (416.00 grains). Silver subsidiary coins of the value of 5, 10, 20 and 50 cents and one cent pieces in bronze are also legal tender up to the value of two dollars for silver and one dollar for bronze. Bank notes issued by The Hong Kong & Shanghai Bank, The Chartered Bank and The Mercantile Bank are also in circulation, the estimated amount issued at the end of 1931 being $154,631,822.
3. The weights and measures in use in the Colony are defined in the Schedule to Ordinance No. 2 of 1885. They consist of the standards in use in the United Kingdom and of the following Chinese Weights and Measures:-
and
1 fan (candareen)=0.0133 ounces avoirdupois
1 tsin (mace) 0.133 ounces avoirdupois
1 leung (tael)=1.33 ounces avoirdupois
1 kan (catty)=1.33 pounds avoirdupois
1 tam (picul) = 133.33 pounds avoirdupois
1 chek (foot) - 14ğ English inches divided into 10 tsun (inches) and each tsun into 10 fan or tenths.
Page 30Page 31
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