AnnualReport-1938 — Page 61

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58

payment of the Military Contribution also had the effect of weighting the 1938 expenditure in a manner which had not been foreseen when the estimates were prepared, though future liabilities were thereby reduced.

The Public Debt of the Colony at the 31st of December, 1938, was $16,598,000, consisting of two issues: the 4% Conversion Loan of $4,838,000, raised in 1933, the sinking fund of which amounted, on the 31st of December, 1938, to £66,937. 7. 4; and the 3¼% Dollar Loan raised in July, 1934. This latter loan is redeemable by drawings at par in each of the twenty-five years commencing in 1935 at the annual rate of one twenty-fifth of such issue. The amount outstanding at the 31st of December, 1938, was thus reduced to $11,760,000.

The Assets and Liabilities of the Colony on the 31st of December, 1938, are shewn in the following statement :—

LIABILITIES. ASSETS. C. O. Deposits:- Contractors and Officers Deposits $ 519,585.00 Insurance Companies... 1,678,641.62 Advances: Miscellaneous 53,443.81 Pending Re-imbursements from 3¼% dollar loan 10,926,056.46 Pending Re-imbursements from proposed new loan 1,077,333.06 Imprest Account 10,420.17 Subsidiary Coin 90,625.00 Suspense Account 26,438.25 Miscellaneous Deposits 1,486,256.87 3,684,483.49 Current Account Government House and City Development Fund $1,480,119.62 Note Issue Account: Fixed Deposit. 4,000,000.00 839,704.12 5,480,119.62 5,480,119.62 King George V Memorial Fund. 158,368.56 Nickel Coinage Account:- Current Account... $206,860.45 Exchange Adjustment 26,092.39 Praya East Reclamation 74,089.89 Sterling Investment Account 1,286,208.61 1,493,069.06 Note Security Fund 5,480,119.62 Cash:- Accountant-General 422,048.64 Nickel Coinage Security Fund.. 1,493,069.06 Crown Agents 18,827.76 *Joint Colonial Fund 2,871,932.78 Fixed Deposits:- Total Liabilities 11,755,926.63 General .$1,050,000.00 General Revenue Balance 13,562,234.97 Total $ 25,818,161.60 Total .$ 25,818,161.60 Insurance Companies... 1,678,641.62 Miscellaneous.. 119,205.37 2,847,846.99 *Joint Colonial Fund £178,000. Os. Od.

The main heads of taxation enforced in the Colony, with the yield of each for 1938, are as follows:-

(a) Duties on Liquor, Tobacco, Motor Spirit and Perfumed Spirit

(b) Port and Harbour Dues

(c) Rates (Assessed Taxes)

(d) Estate Duty

($9,105,121.72)

($532,539.63)

($5,997,110.00)

($1,220,854.17)

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58 payment of the Military Contribution also had the effect of weighting the 1938 expenditure in a manner which had not been foreseen when the estimates were prepared, though future liabilities were thereby reduced. The Public Debt of the Colony at the 31st of December, 1938, was $16,598,000, consisting of two issues: the 4% Conversion Loan of $4,838,000, raised in 1933, the sinking fund of which amounted, on the 31st of December, 1938, to £66,937. 7. 4; and the 3¼% Dollar Loan raised in July, 1934. This latter loan is redeemable by drawings at par in each of the twenty-five years commencing in 1935 at the annual rate of one twenty-fifth of such issue. The amount outstanding at the 31st of December, 1938, was thus reduced to $11,760,000. The Assets and Liabilities of the Colony on the 31st of December, 1938, are shewn in the following statement :— LIABILITIES. ASSETS. C. O. Deposits:- Contractors and Officers Deposits $ 519,585.00 Insurance Companies... 1,678,641.62 Advances: Miscellaneous 53,443.81 Pending Re-imbursements from 3¼% dollar loan 10,926,056.46 Pending Re-imbursements from proposed new loan 1,077,333.06 Imprest Account 10,420.17 Subsidiary Coin 90,625.00 Suspense Account 26,438.25 Miscellaneous Deposits 1,486,256.87 3,684,483.49 Current Account Government House and City Development Fund $1,480,119.62 Note Issue Account: Fixed Deposit. 4,000,000.00 839,704.12 5,480,119.62 5,480,119.62 King George V Memorial Fund. 158,368.56 Nickel Coinage Account:- Current Account... $206,860.45 Exchange Adjustment 26,092.39 Praya East Reclamation 74,089.89 Sterling Investment Account 1,286,208.61 1,493,069.06 Note Security Fund 5,480,119.62 Cash:- Accountant-General 422,048.64 Nickel Coinage Security Fund.. 1,493,069.06 Crown Agents 18,827.76 *Joint Colonial Fund 2,871,932.78 Fixed Deposits:- Total Liabilities 11,755,926.63 General .$1,050,000.00 General Revenue Balance 13,562,234.97 Total $ 25,818,161.60 Total .$ 25,818,161.60 Insurance Companies... 1,678,641.62 Miscellaneous.. 119,205.37 2,847,846.99 *Joint Colonial Fund £178,000. Os. Od. The main heads of taxation enforced in the Colony, with the yield of each for 1938, are as follows:- (a) Duties on Liquor, Tobacco, Motor Spirit and Perfumed Spirit (b) Port and Harbour Dues (c) Rates (Assessed Taxes) (d) Estate Duty ($9,105,121.72) ($532,539.63) ($5,997,110.00) ($1,220,854.17)
Baseline (Original)
58 payment of the Military Contribution also had the effect of weighting the 1938 expenditure in a manner which had not been foreseen when the estimates were prepared, though future liabilities were thereby reduced. The Public Debt of the Colony at the 31st of December, 1938, was $16,598,000, consisting of two issues: the 4% Conversion Loan of $4,838,000, raised in 1933, the sinking fund of which amounted, on the 31st of December, 1938, to £66,937. 7. 4; and the 34% Dollar Loan raised in July, 1934. This latter loan is redeemable by drawings at par in each of the twenty-five years commencing in 1935 at the annual rate of one twenty-fifth of such issue. The amount outstanding at the 31st of December, 1933, was thus reduced to $11,760,000. The Assets and Liabilities of the Colony on the 31st of December, 1938, are shewn in the following statement :— LIABILITIES. C. ASSETS. 0. Deposits:- Contractors and Officers Deposits ....$ 519,585.00 Insurance Companies... 1,678,641.62 Advances: Miscellaneous Pending Re-imbursements from 31% dollar loan Pending Re-imbursements from proposed new loan Imprest Account Subsidiary Coin Suspense Account 53,443.81 10,926,056.46 1,077,333.06 10,420.17 90,625.00 26,438.25 Miscellaneous Deposits 1,486,256.87 3,684,483.49 Current Government House and City Development Fund Note Issue Account:: Account $1,480,119.62 Fixed Deposit. 4,000,000.00 839,704.12 5,480,119.62 King George V Memorial Fund.] 158,368.56 Nickel Coinage Account:- Current Exchange Adjustment 26,092.39 Account... $206,860.45 Sterling Invest- Praya East Reclamation 74,089.89 ment Account 1,286,208.61 1,493,069.06 Note Security Fund Cash:- 5,480,119.62 Accountant-General 422,048.64 Nickel Coinage Security Fund.. 1,493,069.06 Crown Agents 18.827.76 *Joint Colonial Fund 2,871,932.78 Fixed Deposits:- Total Liabilities 11,755,926.63 General .$1,050,000.00 General Revenue Balance Total 13,562,234.97 $ 25,818,161.60 Insurance Companies... 1,678,641.62 Miscellaneous.. 119,205.37 2,847,846.99 Total .$ 25,818,161.60 *Joint Colonial Fund £178,000. Os. Od. The main heads of taxation enforced in the Colony, with the yield of each for 1938, are as follows:- (a) Duties on Liquor, Tobacco, Motor Spirit and Perfumed Spirit (b) Port and Harbour Dues .($9,105,121.72) ( (c) Rates (Assessed Taxes) (d) Estate Duty 532,539.63) .( 5,997,110.00) ..(1,220,854.17)
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58

payment of the Military Contribution also had the effect of weighting the 1938 expenditure in a manner which had not been foreseen when the estimates were prepared, though future liabilities were thereby reduced.

The Public Debt of the Colony at the 31st of December, 1938, was $16,598,000, consisting of two issues: the 4% Conversion Loan of $4,838,000, raised in 1933, the sinking fund of which amounted, on the 31st of December, 1938, to £66,937. 7. 4; and the 34% Dollar Loan raised in July, 1934. This latter loan is redeemable by drawings at par in each of the twenty-five years commencing in 1935 at the annual rate of one twenty-fifth of such issue. The amount outstanding at the 31st of December, 1933, was thus reduced to $11,760,000.

The Assets and Liabilities of the Colony on the 31st of December, 1938, are shewn in the following statement :—

LIABILITIES.

C.

ASSETS.

0.

Deposits:-

Contractors

and Officers

Deposits ....$ 519,585.00

Insurance

Companies... 1,678,641.62

Advances:

Miscellaneous

Pending Re-imbursements from 31% dollar loan

Pending Re-imbursements

from proposed new loan

Imprest Account

Subsidiary Coin

Suspense Account

53,443.81

10,926,056.46

1,077,333.06

10,420.17

90,625.00

26,438.25

Miscellaneous

Deposits 1,486,256.87

3,684,483.49

Current

Government House and City

Development Fund

Note Issue Account::

Account $1,480,119.62 Fixed Deposit. 4,000,000.00

839,704.12

5,480,119.62

King George V Memorial Fund.]

158,368.56

Nickel Coinage Account:-

Current

Exchange Adjustment

26,092.39

Account...

$206,860.45

Sterling Invest-

Praya East Reclamation

74,089.89

ment Account 1,286,208.61

1,493,069.06

Note Security Fund

Cash:-

5,480,119.62

Accountant-General

422,048.64

Nickel Coinage Security Fund..

1,493,069.06

Crown Agents

18.827.76

*Joint Colonial Fund

2,871,932.78

Fixed Deposits:-

Total Liabilities

11,755,926.63

General

.$1,050,000.00

General Revenue Balance

Total

13,562,234.97

$

25,818,161.60

Insurance

Companies... 1,678,641.62 Miscellaneous..

119,205.37

2,847,846.99

Total

.$ 25,818,161.60

*Joint Colonial Fund £178,000. Os. Od.

The main heads of taxation enforced in the Colony, with the yield of each for 1938, are as follows:-

(a) Duties on Liquor, Tobacco, Motor Spirit and Perfumed

Spirit

(b) Port and Harbour Dues

.($9,105,121.72)

(

(c) Rates (Assessed Taxes)

(d) Estate Duty

532,539.63)

.( 5,997,110.00)

..(1,220,854.17)

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