AnnualReport-1934 — Page 76

Administrative Reports 行政報告書 All AI Reviewed

—A (1) 23 –

NOTE CIRCULATION.

20. The local circulation of notes and specie in Reserve of the three banks having authorized issues were as follows at 31st December:

Notes in Circulation. Specie in Reserve. Hong Kong & Shanghai Banking Corporation $131,755,918 $19,848,496 Chartered Bank of India, Australia and China $132,750,000 $8,300,000 Mercantile Bank of India, Ltd. $1,996,993 $1,350,000 Total $153,601,407 $142,400,000

EXCHANGE.

21. The average monthly rates for sterling and Shanghai dollars were as follows

Sterling Shanghai Dollars January 1/5 110 February 1/5 5/16 110 March 1/6 110 1/8 April 1/5 1/8 110 3/8 May 1/4 1/2 110 1/8 June 1/5 5/16 109 3/8 July 1/5 1/2 109 15/16 August 1/6 1/16 109 13/16 September 1/6 5/8 109 3/8 October 1/7 1/8 114 3/16 November 1/7 1/16 120 December 1/8 1/8 120 13/16

The opening rate of the year on January 2nd was 1/5 d., the closing rate on December 31st was 1/8 1/8 d. The lowest rate quoted during the year was 1/4 1/2 on 3rd May and the highest rate 1/8 on the 14th December.

GENERAL

22. The estimates for the year were based on $1=1s./3d. and a deficit of $1,711,070 was estimated for. The final figures for the year, however, showed a deficit of $1,574,870. Revenue decreased by $2,157,339 and Expenditure decreased by $2,293,539 when compared with the original estimates. The monthly rates for sterling are shown in the preceding paragraph from which it will be seen that on no occasion did the dollar drop below 1/4 while the average rate throughout the year was 1/6 1/16. Large savings were made under Personal Emoluments when compared with the Estimates, provision being made for $12,955,767 but only $11,213,115 was expended.

Edit History

2026-05-09 15:20:11 · NVIDIA / meta/llama-4-maverick-17b-128e-instruct

Live

View comparison

AI Proofread

—A (1) 23 – NOTE CIRCULATION. 20. The local circulation of notes and specie in Reserve of the three banks having authorized issues were as follows at 31st December: Notes in Circulation. Specie in Reserve. Hong Kong & Shanghai Banking Corporation $131,755,918 $19,848,496 Chartered Bank of India, Australia and China $132,750,000 $8,300,000 Mercantile Bank of India, Ltd. $1,996,993 $1,350,000 Total $153,601,407 $142,400,000 EXCHANGE. 21. The average monthly rates for sterling and Shanghai dollars were as follows Sterling Shanghai Dollars January 1/5 110 February 1/5 5/16 110 March 1/6 110 1/8 April 1/5 1/8 110 3/8 May 1/4 1/2 110 1/8 June 1/5 5/16 109 3/8 July 1/5 1/2 109 15/16 August 1/6 1/16 109 13/16 September 1/6 5/8 109 3/8 October 1/7 1/8 114 3/16 November 1/7 1/16 120 December 1/8 1/8 120 13/16 The opening rate of the year on January 2nd was 1/5 d., the closing rate on December 31st was 1/8 1/8 d. The lowest rate quoted during the year was 1/4 1/2 on 3rd May and the highest rate 1/8 on the 14th December. GENERAL 22. The estimates for the year were based on $1=1s./3d. and a deficit of $1,711,070 was estimated for. The final figures for the year, however, showed a deficit of $1,574,870. Revenue decreased by $2,157,339 and Expenditure decreased by $2,293,539 when compared with the original estimates. The monthly rates for sterling are shown in the preceding paragraph from which it will be seen that on no occasion did the dollar drop below 1/4 while the average rate throughout the year was 1/6 1/16. Large savings were made under Personal Emoluments when compared with the Estimates, provision being made for $12,955,767 but only $11,213,115 was expended.

Baseline (Original)

—A (1) 23 – NOTE CIRCULATION. 20. The local circulation of notes and specie in Reserve of the three banks having authorized issues were as follows at 31st December: Notes in Circulation. Specie in Reserve. Hong Kong & Shanghai Banking Corporation Chartered Bank of India, Australia and China $131,755,918 $132,750,000 19,848,496 8,300,000 Mercantile Bank of India, Ltd... 1,996,993 1,350,000 Total .$153,601,407 $142,400,000 EXCHANGE. 21. The average monthly rates for sterling and Shanghai dollars were as follows January February March April May June July August September October November December .1/50/ 110 .1/515/16 110 1/6 1101 + 1/51/ 1103/ .1/42 1101 1/5/16 1093 1/5% 10915/16 1/6/16 10918/16 1/65 1093 .1/71/ 1143/16 .1/7/16 12016 .1/81 12013/16 The opening rate of the year on January 2nd was 1/5 d., the closing rate on December 31st was 1/81d. The lowest rate quoted during the year was 1/41 on 3rd May and the highest rate 1/8 on the 14th December. GENERAL 22. The estimates for the year were based on $1-1s./3d. and a deficit of $1,711,070 was estimated for. The final figures for the year, however, showed a deficit of $1,574,870. Revenue decreased by $2,157,339 and Expenditure and Expenditure decreased by $2,293,539 when compared with the original estimates. The monthly rates for sterling are shown in the preceding paragraph from which it will be seen that on no occasion did the dollar drop below 1/4 while the average rate throughout the year was 1/6/16. Large savings were made under Personal Emolu- ments when compared with the Estimates, provision being made for $12,955,767 but only $11,213,115 was expended.

2026-05-09 15:20:11 · Baseline

View content

—A (1) 23 –

NOTE CIRCULATION.

20. The local circulation of notes and specie in Reserve of the three banks having authorized issues were as follows at 31st

December:

Notes in Circulation.

Specie in Reserve.

Hong Kong & Shanghai Banking

Corporation

Chartered Bank of India, Australia

and China

$131,755,918 $132,750,000

19,848,496

8,300,000

Mercantile Bank of India, Ltd...

1,996,993

1,350,000

Total

.$153,601,407 $142,400,000

EXCHANGE.

21. The average monthly rates for sterling and Shanghai dollars were as follows

January

February

March

April

May

June

July August

September

October

November

December

.1/50/

110

.1/515/16

110

1/6

1101

1/51/

1103/

.1/42

1101

1/5/16

1093

1/5%

10915/16

1/6/16

10918/16

1/65

1093

.1/71/

1143/16

.1/7/16

12016

.1/81

12013/16

The opening rate of the year on January 2nd was 1/5 d., the closing rate on December 31st was 1/81d. The lowest rate quoted during the year was 1/41 on 3rd May and the highest rate 1/8 on the 14th December.

GENERAL

22. The estimates for the year were based on $1-1s./3d. and a deficit of $1,711,070 was estimated for. The final figures for the year, however, showed a deficit of $1,574,870. Revenue decreased by $2,157,339 and Expenditure

and Expenditure decreased by $2,293,539 when compared with the original estimates. The monthly rates for sterling are shown in the preceding paragraph from which it will be seen that on no occasion did the dollar drop below 1/4 while the average rate throughout the year was 1/6/16. Large savings were made under Personal Emolu- ments when compared with the Estimates, provision being made for $12,955,767 but only $11,213,115 was expended.

AnnualReport-1934 — Page 76

Edit History

Comments

Private Research Note