28
4
Hong Kong Annual Administration Reports, 1841-1941
COLONIAL REPORTS-ANNUAL.
The expenditure, inclusive of a sum of $3,053,525 spent on Public Works Extraordinary, amounted to $15,739,652 being $1,609,498 less than the estimate, and $1,250,058 more than the expenditure in 1920. Compared with the estimates there were increases under 18 heads as against 8 heads where there were decreases. The excess amounting to $196,971 under Miscellaneous Services was due to transport of Government servants, and $210,530 in the case of Kowloon-Canton Railway due to two motor coaches and motor trailer. Military expenditure was less than the estimate by $202,100 due to recovery of amount overpaid in 1920. Imports and Exports Department shows a saving of $254,086 due to less purchase of Opium, and Public Works Extraordinary was less by $1,913,874 than the amount estimated. The item Charge on account of Public Debt was responsible for an excess over the estimates of $108,244 due to lower exchange.
The balance to the credit on the year's working was $1,988,480 and the assets and liabilities account showed on the 31st December a credit balance of $6,478,746.
The following is a statement of the revenue and expenditure of the Colony for the five years 1917-1921:
Year Revenue Expenditure 1917 $16,524,975 $15,058,105 1918 $17,915,925 $14,090,828 1919 $14,689,672 $18,665,248 1920 $14,489,594 $16,252,172 1921 $17,728,132 $15,739,652The amount of the consolidated loan stands at £1,485,733. Against this there is at credit of the Sinking Fund a sum of £368,403. The Local Loan under Ordinance No. 12 of 1916 amounts to $3,000,000 and there are the sums of $664,495 and £89,093 at credit of the Sinking Fund.
During the period 1912-1921 the assessment of the whole Colony has risen from $12,312,306 to $18,696,660, an increase in rateable value of $6,384,354.
The circulation on the 31st December of notes of the three Banks having authorised issues was as follows:
Bank Amount Hongkong & Shanghai Banking Corporation $40,395,225 Chartered Bank of India, Australia & China $9,074,137 Mercantile Bank of India, Limited $1,321,503 Total $50,790,865The currency of the Colony consists, in addition to the notes of these Banks, of British, Hongkong, and Mexican dollars and of subsidiary coin, which continued at par throughout the year.
The total issue of subsidiary coins less those demonetised now amounts to $20,789,370 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
Page 35
Page 36
28
4
Hong Kong Annual Administration Reports, 1841-1941
COLONIAL REPORTS-ANNUAL.
The expenditure, inclusive of a sum of $3,053,525 spent on Public Works Extraordinary, amounted to $15,739,652 being $1,609,498 less than the estimate, and $1,250,058 more than the expenditure in 1920. Compared with the estimates there were increases under 18 heads as against 8 heads where there were decreases. The excess amounting to $196,971 under Miscellaneous Services was due to transport of Government servants, and $210,530 in the case of Kowloon-Canton: Railway due to two motor coaches and motor trailer. Military ex- penditure was less than the estimate by $202,100 due to recovery of amount overpaid in 1920. Imports and Exports Department shows a saving of $254,086 due to less purchase of Opium, and Public Works Extraordinary was less by $1,913,874 than the amount estimated. The item Charge on account of Public Debt was responsible for an excess over the estimates of $108,244 due to lower exchange.
The balance to the credit on the year's working was $1,988,480 and the assets and liabilities account showed on the 31st December a credit balance of $6,478,746. .
The following is a statement of the revenue and expenditure of the Colony for the five years 1917-1921-
Expenditure.
1917
1918
1919
1920
1921
:
Revenue.
$
$
15,058,105
14,090,828
18,665,248
16,252,172
***
16,524,975
17,915,925
14,689,672
14,489,594
17,728,132
15,739,652
The amount of the consolidated loan stands at £1,485,733. Against this there is at credit of the Sinking Fund a sum of £368,403. The Local Loan under Ordinance No. 12 of 1916 amounts to $3,000,000 and there are the sums of $664,495 and £89,093 at credit of the Sinking Fund.
During the period 1912-1921 the assessment of the whole Colony has risen from $12,312,306 to $18,696,660, an increase in rateable value of $6,384,354.
The circulation on the 31st December of notes of the three Banks having authorised issues was as follows :-
Hongkong & Shanghai Banking Corporation Chartered Bank of India, Australia & China Mercantile Bank of India, Limited
...
$40,395,225
***
9,074,137 1,321,503
$50,790,865
The currency of the Colony consists, in addition to the notes of these Banks, of British, Hongkong, and Mexican dollars and of sub- sidiary coin, which continued at par throughout the year,
The total issue of subsidiary coins less those demonetised now amounts to $20,789,370 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
Page 35Page 36
No comments yet.
Private notes are available after approval.