HKG-CAR1904-1919 — Page 414

Administrative Reports 行政報告書 All AI Reviewed

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1904-1919

HONG KONG, 1918.

407

The following is a statement of the revenue and expenditure of the Colony for the five years 1914–1918 :-

1914

1915

1916

1917

1918

Revenue.

Expenditure.

11,007,273

10,756,225

11,786,106

15,149,267

13,833,387

11,079,915

15,058,105

14,090,828

18,665,248

16,252,172

The amount of the consolidated loan stands at £1,485,733. Against this there is at credit of the Sinking Fund a sum of £283,602. The Local Loan under Ordinance No. 12 of 1916 amounts to $3,000,000 and there are the sums of $212,000 and £33,300 at credit of the Sinking Fund.

Under Ordinance No. 18 of 1917 a tax of 7 per cent. on Assessments was imposed to provide an annual contribution to the Imperial Government for purposes of the War.

The currency of the Colony consists, in addition to the notes of the Hong Kong and Shanghai Bank, Chartered Bank of India, Australia, and China, and Mercantile Bank of India, of British, Hong Kong, and Mexican Dollars and of subsidiary coin, which continued at par throughout the year.

The total issue of subsidiary coins, less those demonetized, now amounts to $20,764,370 nominal value, and they were up to the year 1905 readily absorbed at par, large quantities being taken by the neighbouring provinces of China. During 1916 ten cent. pieces of the face value of $5,028,000 were shipped to England for purposes of demonetization. The discount which prevailed between 1905 and 1916 may be attributed to the immense quantity of similar coin which was minted at Canton as well as to the amount of Hong Kong coin minted largely in excess of the needs of the Colony by itself. In 1905 the Hong Kong Government ceased to issue any subsidiary coin and in 1906 it began a policy of demonetising all its subsidiary coin received as revenue. This policy has been continuously followed since, except during a brief period in 1911. Coin to the face value of $23,235,459 has thus been redeemed. The total issue by the Hong Kong Government was of the face value of about $44,000,000.

II.-SHIPPING AND TRADE, INDUSTRIES, FISHERIES,

AGRICULTURE, AND LAND.

(a)-SHIPPING.

The total of the shipping entering and clearing at ports in the Colony during the year 1918 amounted to 579,541 vessels of 29,518,189 tons, which, compared with the figures for 1917, shows a decrease of 53,537 vessels, with a decrease of 4,974,484 tons.

Of vessels of European construction, 3,337 ocean steamers, 6 sailing ships, 3,660 river steamers, and 2,986 steamships not exceeding 60 tons entered during the year, giving a daily average of 27.3 ships, as compared with 29.9 in 1917, and 319 in 1916.

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1904-1919 HONG KONG, 1918. 407 3 The following is a statement of the revenue and expenditure of the Colony for the five years 1914–1918 :- 1914 1915 1916 1917 1918 Revenue. $ Expenditure. $ 11,007,273 10,756,225 11,786,106 15,149,267 13,833,387 11,079,915 15,058,105 14,090,828 18,665,248 16,252,172 The amount of the consolidated loan stands at £1,485,733. Against this there is at credit of the Sinking Fund a sum of £283,602. The Local Loan under Ordinance No. 12 of 1916 amounts to $3,000,000 and there are the sums of $212,000 and £33,300 at credit of the Sinking Fund. Under Ordinance No. 18 of 1917 a tax of 7 per cent. on Assessments was imposed to provide an annual contribution to the Imperial Government for purposes of the War. The currency of the Colony consists, in addition to the notes of the Hong Kong and Shanghai Bank, Chartered Bank of India, Australia, and China, and Mercantile Bank of India, of British, Hong Kong, and Mexican Dollars and of subsidiary coin, which continued at par throughout the year. The total issue of subsidiary coins, less those demonetized, now amounts to $20,764,370 nominal value, and they were up to the year 1905 readily absorbed at par, large quantities being taken by the neighbouring provinces of China. During 1916 ten cent. pieces of the face value of $5,028,000 were shipped to England for purposes of demonetization. The discount which prevailed between 1905 and 1916 may be attributed to the immense quantity of similar coin which was minted at Canton as well as to the amount of Hong Kong coin minted largely in excess of the needs of the Colony by itself. In 1905 the Hong Kong Government ceased to issue any subsidiary coin and in 1906 it began a policy of demonetising all its subsidiary coin received as revenue. This policy has been continuously followed since, except during a brief period in 1911. Coin to the face value of $23,235,459 has thus been redeemed. The total issue by the Hong Kong Government was of the face value of about $44,000,000. II.-SHIPPING AND TRADE, INDUSTRIES, FISHERIES, AGRICULTURE, AND LAND. (a)-SHIPPING. The total of the shipping entering and clearing at ports in the Colony during the year 1918 amounted to 579,541 vessels of 29,518,189 tons, which, compared with the figures for 1917, shows a decrease of 53,537 vessels, with a decrease of 4,974,484 tons. Of vessels of European construction, 3,337 ocean steamers, 6 sailing ships, 3,660 river steamers, and 2,986 steamships not exceeding 60 tons entered during the year, giving a daily average of 27.3 ships, as compared with 29.9 in 1917, and 319 in 1916.

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1904-1919 HONG KONG, 1918. 407 3 The following is a statement of the revenue and expenditure of the Colony for the five years 1914–1918 :- 1914 1915 1916 1917 1918 Revenue. $ Expenditure. $ 11,007,273 10,756,225 11,786,106 15,149,267 13,833,387 11,079,915 15,058,105 14,090,828 18,665,248 16,252,172 The amount of the consolidated loan stands at £1,485,733. Against this there is at credit of the Sinking Fund a sum of £283,602. The Local Loan under Ordinance No. 12 of 1916 amounts to $3,000,000 and there are the sums of $212,000 and £33,300 at credit of the Sinking Fund. Under Ordinance No. 18 of 1917 a tax of 7 per cent. on Assessments was imposed to provide an annual contribution to the Imperial Government for purposes of the War. The currency of the Colony consists, in addition to the notes of the Hong Kong and Shanghai Bank, Chartered Bank of India, Australia, and China, and Mercantile Bank of India, of British, Hong Kong, and Mexican Dollars and of subsidiary coin, which continued at par through- out the year. The total issue of subsidiary coins, less those demonetized, now amounts to $20,764,370 nominal value, and they were up to the year 1905 readily absorbed at par, large quantities being taken by the neighbouring provinces of China. During 1916 ten cent. pieces of the face value of $5,028,000 were shipped to England for purposes of demonetization. The discount which prevailed between 1905 and 1916 may be attributed to the immense quantity of similar coin which was minted at Canton as well as to the amount of Hong Kong coin minted largely in excess of the needs of the Colony by itself. In 1905 the Hong Kong Government ceased to issue any subsidiary coin and in 1906 it began a policy of demonetising all its subsidiary coin received as revenue. This policy has been continuously followed since, except during a brief period in 1911. Coin to the face value of $23,235,459 has thus been redeemed. The total issue by the Hong Kong Government was of the face value of about $44,000,000. II.-SHIPPING AND TRADE, INDUSTRIES, FISHERIES, AGRICULTURE, AND LAND. (a)-SHIPPING. The total of the shipping entering and clearing at ports in the Colony during the year 1918 amounted to 579,541 vessels of 29,518,189 tons, which, compared with the figures for 1917, shows a decrease of 53,537 vessels, with a decrease of 4,974,484 tons. Of vessels of European construction, 3,337 ocean steamers, 6 sailing ships, 3,660 river steamers, and 2,986 steamships not ex- ceeding 60 tons entered during the year, giving a daily average of 27.3 ships, as compared with 29-9 in 1917, and 319 in 1916.

2026-05-10 23:59:31 · Baseline

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