Hong Kong Annual Administration Reports, 1841–1941
PAPERS RELATING TO :
the supply commenced, together with the profit obtained each year. Silver Coins. Copper Coins. Profit. $ $ $ 1864 15,638.70 30,293.92 13,333.22 1865 49,447.00 30,343.58 6,758.58 1866 60,014.60 30,000.00 5,877.49 1867 10,000.00 29,987.28 14,249.41 1872 14,000.00 950.52 1873 105,317.00 9,000.00 7,878.70 1874 49,883.00 11,000.00 2,628.91 1875 47,287.00 3,500.00 5,361.52 1876 44,623.00 6,500.00 8,088.13 1877 57,680.00 12,500.00 10,781.51 1878 38,815.00 14,700.00 8,572.34 1879 50,595.00 12,000.00 11,528.36 1880 50,400.00 6,300.00 7,454.80 1881 40,600.00 4,500.00 2,850.67 1882 100,800.00 10,000.00 10,000.08 1883 101,900.00 2,403.47 1884 212,500.00 26,285.37 1885 282,200.00 33,464.87 1886 476,500.00 41,348.48 1887 497,300.00 24,352.73 1888 910,000.00 72,904.77The issue this year will, according to present indications, again show a great advance, having already (October 23rd) reached a total of $948,500, consisting of 11,854,250 separate coins, and though this must not be counted on as a permanent source of revenue I see no reason to anticipate any falling off in the demand in the immediate future.
5. The desire of the Chinese for these coins (consisting of pieces representing 20 cents, 10 cents, and 5 cents, manufactured at Her Majesty's Mint for this Colony) appears to be almost insatiable; and if from any cause there is delay in the supply from England, the purchasing price at once rises to a premium, which has been known at the Chinese New Year to be as high as 20 per cent. I understand that this coinage is growing more and more in favour among the vast population of the neighbouring Empire, probably owing to confidence in its exactly uniform standard of value, and that the coins are not only used as money, but are to a considerable extent converted into buttons and other ornaments.
6. Besides the causes for increase of receipts above indicated there is another which in the next few years is likely to have a greater effect in this direction than any other. I refer to the enhanced return from the opium farm, which was in 1888 granted for three years from April 1889 at an increase of $295,200 per annum over the price obtained for the previous term. This result is attributable partly to the large increase of population and partly to efforts, which proved successful, to arouse competition on the part of the Chinese capitalists of Singapore and Penang.
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4
Hong Kong Annual Administration Reports, 1841–1941
PAPERS RELATING TO :
the supply commenced, together with the profit obtained each
year.
Silver Coins.
Copper Coins.
Profit.
$
$
$
1864
15,638 70.
30,293.92
13,333.22
1865
+
49,447.00
30,343*58
6,758.58
1866
60,014:60
30,000.00
5,877-49
1867
10,000.00
29,987-28
14,249-41
1872
14,000.00
950*52
1873
105,317.00
9,000*00
7,878 70
1874
49,883.00
11,000.00
2,628.91
1875
47,287.00
3,500.00
5,361.52
1876
44,623.00
6,500.00
8,088.13
1877
57,680.00
12,500.00
10,781-51
1878
38,815.00
14,700.00
8,572.34
1879
50,595.00
12,000.00
11,528.36
1880
50,400.00
6,300.00
7,454.80
1881
40,600.00
4,500.00
2,850.67
1882
100,800.00
10,000.00
10,000.08
1883
101,900.00
2,403*47
1884
212,500.00
26,285.37
1885
282,200.00
33,464'87
1866
476,500.00
41,348*48
1887
497,300*00
24,352.73
1888
910,000.00
72,904.77
The issue this year will, according to present indications, again show a great advance, having already (October 23rd) reached a total of $948,500, consisting of 11,854,250 separate coins, and though this must not be counted on as a permanent source of revenue I see no reason to anticipate any falling off in the demand in the immediate future.
5. The desire of the Chinese for these coins (consisting of picces representing 20 cents, 10 cents, and 5 cents, manufactured at Her Majesty's Mint for this Colony) appears to be almost insatiable; and if from any cause there is delay in the supply from England, the purchasing price at once rises to a premium, which has been known at the Chinese New Year to be as high as 20 per cent. I understand that this coinage is growing more and more in favour among the vast population of the neighbouring Empire, probably owing to confidence in its exactly uniform standard of value, and that the coins are not only used as money, but are to a considerable extent converted into buttons and other
ornaments.
6. Besides the causes for increase of receipts above indicated there is another which in the next few years is likely to have a greater effect in this direction than any other. I refer to the enhanced return from the opium farm, which was in 1888 granted for three years from April 1889 at an increase of $295,200 per annum over the price obtained for the previous term. This result is attributable partly to the large increase of population and partly to efforts, which proved successful, to arouse competition on the part of the Chinese capitalists of Singapore and Penang.
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