230
6
Hong Kong Annual Administration Reports, 1841–1941
COLONIAL REPORTS—ANNUAL,
Increases:
The Hill District, $10,925 or 3.91 per cent.
Shau-ki-wan, Sai-wan-ho, and Quarry Bay, $17,161 or 4.91 per cent.
Hong Kong Villages, $13,015 or 11.08 per cent.
Kowloon Point, $30,430 or 6.11 per cent.
Yau-ma-ti, $4,285 or 1.67 per cent.
Mong Kok Tsui, $20,020 or 14.94 per cent.
Decreases:
Hung Hom and Hok Un, $6,385 or 2.11 per cent.
New Kowloon, $1,969 or 1.62 per cent.
Kowloon Villages, $2,545 or 2.59 per cent.
For the period 1903-1912 the assessment of the whole Colony has risen from $8,788,063 to $12,312,306 an increase in value of 40.10 per cent.
The circulation on the 31st December of notes of the three banks having authorised issues was as follows:
Hong Kong and Shanghai Bank $19,784,469 Chartered Bank of India, Australia, and China $5,329,419 Mercantile Bank of India $496,323 $25,610,211The currency of the Colony consists, in addition to the notes of these banks, of British, Hong Kong, and Mexican dollars and of subsidiary coin. The inconvenient size of the silver dollar, approximating to that of a five shilling piece, has led to a considerable demand among the European population for one dollar notes, and a large number of notes of this denomination, issued by the Portuguese Banco Nacional Ultramarino and payable at Macao, are in circulation. The Hong Kong & Shanghai Bank were authorised during the year under review to increase their issue of one dollar notes from $226,000 to $350,000. Silver subsidiary coin minted by the Chinese Government at Canton is in common use generally at a slightly higher rate of discount than that prevailing for Hong Kong subsidiary coin.
There are also in the Colony a certain number of notes issued by the Republican Government at Canton. These notes are payable only in subsidiary coin and as they are practically unsecured the discount upon them has reached as high a rate as thirty per centum.
The circulation of foreign copper coin is prohibited by Ordinance No. 11 of 1912, and there is now none such to be found.
The rate of discount on Hong Kong subsidiary coin varied during 1912 between the following limits:
50 cent pieces 1 per cent. to 4 per cent. 20 cent pieces 3 per cent. to 4 per cent. 10 cent pieces 3 per cent. to 4 per cent. 5 cent pieces 5 per cent. to 12 per cent. Copper coin 8 per cent.
繁橥
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par
230
6
Hong Kong Annual Administration Reports, 1841–1941
COLONIAL REPORTS—ANNUAL,
Increases:
The Hill District, $10,925 or 3·91 per cent.
Shau-ki-wan, Sai-wan-ho, and Quarry Bay, $17,161 or
4.91 per cent.
Hong Kong Villages, $13,015 or 11:08 per cent.
Kowloon Point, $30,430 or 6'11 per cent.
Yau-ma-ti, $4,285 or 167 per cent.
Mong Kok Tsui, $20,020 or 14.94 per cent.
Decreases: -
Hung Hom and Hok Un, $6,385 or 2·11 per cent.
New Kowloon, $1,969 or 1.62 per cent.
Kowloon Villages, $2,545 or 2·59 per cent.
For the period 1903-1912 the assessment of the whole Colony has risen from $8,788,063 to $12,312,306 an increase in value of 40.10 per cent.
The circulation on the 31st December of notes of the three banks having authorised issues was as follows:
Hong Kong and Shanghai Bank Chartered Bank of India, Australia,
and China
Mercantile Bank of India
$
19,784,469
5,329,419
496,323
$25,610,211
The currency of the Colony consists, in addition to the notes of these banks, of British, Hong Kong, and Mexican dollars and of subsidiary coin. The inconvenient size of the silver dollar, approximating to that of a five shilling piece, has led to a con- siderable deinaud among the European population for one dollar notes, and a large number of notes of this denomination, issued by the Portuguese Banco Nacional Ultramarino and payable at Macao, are in circulation. The Hong Kong & Shanghai Bank were authorised during the year under review to increase their issue of one dollar notes from $226,000 to $350,000. Silver sub- sidiary coin minted by the Chinese Government at Canton is in common use generally at a slightly higher rate of discount than that prevailing for Hong Kong subsidiary coin.
There are also in the Colony a certain number of notes issued by the Republican Government at Canton. These notes are pay- able only in subsidiary coin and as they are practically unsecured the discount upon them has reached as high a rate as thirty per centum.
The circulation of foreign copper coin is prohibited by Ordi nance No. 11 of 1912, and there is now none such to be found.
The rate of discount on Hong Kong subsidiary coin varied during 1912 between the following limits:-
50 cent pieces 1 per cent. to 4 per cent.
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