(2)
EXPENDITURE.
(3)
(C.)-ASSETS AND LIABILITIES.
1897.
1898.
INCREASE.
DECREASE.
ASSETS.
$
$
$
Charge on Account of Public Debt, Pensions,
Governor and Legislature,
Colonial Secretary's Department,
Audit Department,
Treasury,
Public Works Department,
157,490.70
140,824.22
163,805.03
164,210.26
6,314.33
23,386.04
44,248.94
$1,809.58
7,565.64
25,691.46
84,862.11
9,170.63
Subsidiary Coins,
Do., cars of Taxes,
Do. of Crown Rent,
Advances to be recovered, Suspense House Service,
12,103.80
7,386.61
4,717.19
22,249.23
$9,556.92
22,409.02
89,574.10
207,080.29
241,561.62
Post Office.
Registrar General's Department,
12,195.32
14,994.92
Harbour Master's Department,
61,485.00
65,835.25
159.79
17.18
34,481.23
2,799.60
4,330.25
16,894.03
14,934.94
Lighthouses,
14,563.99
12,728.85
1,459.00
1,885.14
Observatory,
Stamp Office,
3,564.62
Botanical and Afforestation Department,
18,502.41
3,615.80
17,842.44
51.18
1,019.97
Legal Departments,
76,382.20
Ecclesiastical Department,
1,825.00
76,092.45
1,815.00
289.75
10.00
TOTAL ASSETS,......
$
1,089,902.51
Education,
72,984.83
72,420.12
564.71
LIABILITIES.
$
in transit,
345,000.00
650,000.00
Drafts drawn by Crown Agents, in transit,
82,000.00
Military Contribution,
60,370.34
21.87
Deposits not Available,
407,080.76
40,433.92
Refund of Taxes,
2,500.00
48,885.07
Officers' Remittances, not yet paid,
26,613.00
5,461.75
Money Orders, not yet paid,
12,881.99
Transit Charges,
5,900.00
Pensions due to Civil Officers,
15,900.00
Do. to Police,
11,000.00
Private Drainage Works,
292.36
Overdrawn Balance,
251,905.77
TOTAL LIABILITIES,......$
876,444.22
213,358.39
TOTAL.......
1,089,802.61
114,978.80
115,602.48
528.68
Medical Departments,
21,089.51
Public Works, Recurrent,
Magistracy,
Police,
Gaols,
Fire Brigade.
Sanitary Department,
Charitable Allowances,
Transport.
Miscellaneous Services,
Military Expenditure,
Public Works, Extraordinary,
218,903.85
59,372.23
22,662.47
21,403.00
222,165.90
$7,954.61
14,920.09
322.49
3,258.03
1,117.64
7,742.39
Balance of Assets over Liabilities, Less Value of 1893 Loan,
$213,358.39
123,334.14
96,662.40
101,613.41
4,231.09
7,712.86
1,084.79
9,400.92
1,931.01
1,688.06
TOTAL,...
$
90,024.25
307,265.81
290,808.49
476,869.60
206,451.67
127,716.38
$19,274.89
42,405.28
194,447.57
234,381.05
106,664.67
196.30
16,467.02
12,004.10
TOTAL,...
$
2,641,409.71
2,841,805.20
248,109.08
47,713.59
DEDUCT DECREASE,...............$
47,713.59
200,395.49
Revenue in 1898,
Expenditure in 1898,
Surplus,........
$2,918,159.24
2,841,805.20
76,354.01
TOTAL REVENUE AND EXPENDITURE FOR THE LAST FIVE YEARS: 1894-1898, INCLUSIVE,
1894.
1895.
(D.) PUBLIC DEBT.
In 1893 the Government borrowed £341,799.15s.1d. (sterling) for the purposes of certain Extraordinary Public Works. The principal of these works were the Praya Reclamation, a Central Market, Water, Drainage and Sewerage Works. The loan was an Inscribed Stock Loan, bearing interest at 3½%, to be paid off on April 15th, 1943. In 1896 a Sinking Fund was created for the purpose of gradually paying off the loan, and during that year the sum of £1,594.9s.9d. (sterling) was devoted to it. In 1897 the Sinking Fund stood at £5,174.14s.4d. (sterling), and during the financial year it has risen to £8,854.8s.1d. (sterling).
(E.) CURRENCY.
The only legal tender is the Mexican dollar, and the British and Hongkong dollar, or other silver dollars of equivalent value duly authorised by the Governor. Silver coins, representing some multiple of the cent or hundredths part of the said dollar, are legal tender for any sum not exceeding two dollars, and the copper or bronze coins representing the cent or one-hundredth part, and the cash or ..., representing one-thousandth part of the dollar, are legal tender for any amount not exceeding one dollar. There is also a large paper currency in use, in the form of notes issued by the Chartered Bank of India, Australia and China, the Hongkong and Shanghai Banking Corporation, and the National Bank of China, Limited.
AMOUNT OF PAPER CURRENCY IN CIRCULATION.
The Notes of the Chartered Bank of India, Australia and China, the Hongkong and Shanghai Banking Corporation, and the National Bank of China, Limited, in circulation during the year ending 31st December, 1898, were in amount as follows:--
Hongkong
1896.
1897.
1898.
$
$
$
Revenue,
Expenditure,
Surplus or Deficit,
2,287,203.32
2,299,096.00
11,892.68
2,486,228.89
2,609,878.91
123,650.02
2,972,373.01
2,474,910.37
+497,462.64
$
$
$
Chartered Bank of India, Australia and China.
Hongkong and Shanghai Bank.
National Bank of China, Limited,
2,641,409.71
2,841,805.20
76,354.01
2,918,159.24
January, February
March,
April,
June,
July
August,
September,
October,
November,
December,
3,051,947
2,938,719
2,775,838
2,914,252
2,917,093
2,873,076
2,934,748
2,588,714
2,878,594
8,126,528
6,764,001
6,176,267
5,087,096
5,747,676
6,180,333
6,419,676
5,721,000
6,799,128
449,740
448,900
448,921
450,000
444,905
445,879
449,638
439,057
448,975
(B.) IMPORTANT CHANGES IN TAXATION.
In deference to the wishes of the Shipping Community the Light Dues were, in 1898, reduced from 24 cents to 1 cent per ton. This accounts for the difference (amounting to $62,531.26) in the receipts from this source in 1897 and 1898.
2,808,273
2,836,976
6,439,806
450,000
7,676,009
448,587
6,609,031
450,000
(2)
EXPENDITURE.
(3)
(C.)-ASSETS AND LIABILITIES.
1897.
1898.
INCREASE.
DECREASE.
ASSETS.
$
S
C
$
f.
S
Charge on Account of Publie Debt, Pensions,
Governor aud Legislature,
Colonial Secretary's Departmcut,
Andit Department,
Treasury,
Public Works Department,
157,490.70 140.824.22
163,805.03 164,210.26
6.31433 23,386.04
44,248.94
$1,809.58
7.565.64
25,691.46
84,862.11
9,170.63
Subsidiary Coins,
Do., cars of Taxes,
Do. of Crown Rent,
Advances to be recovered, Suspensa House Service,
12,103.80
7,386.61
4,717.19
22,249.23 $9,556.92
22,409.02 89,574.10
207,080.29
241,561,62
Post Office.
Registrar General's Department,
12,195,32
14.994.92
Harbour Master's Department,
61,485.00
65,835.25
159.79 17.18 34,481.23 2,799.60 4,330.25
16.894.03
14.93-1.94
Lighthouses,
14,563.99
12,728.85
1,459.00 1,885.14
Ubservatory,
Stamp Office,
3,564.62
Botanical and Afforestation Department,
18,502.41
3,615.80 17,842.44
51.18
1.019.97
Legal Departments,
76,382.20
Ecclesiastical Department,
1,825.00
76,092.45; 1,815.00
289.75
10.00
TOTAL ASSETS,......
..$
1,089,902.51
Eduention, ......
72,984.83 !
72,420.12
5644.71
LIABILITIES.
C,
in transit,
345,000.00 650,000.00
Drafis drawn by Crown Agents, in transit,.
82,000.00
Military Contribution,,
60,370.34
21.87
Deposits hot Available,
407,080.76
40.433.92
Refund of Taxes,
2,500.00
48,885.07
Officers' Remittances, not yet puid,
26,613.00
5,461.75
Money Oniers, not yet pail,
12,881.99
Transit Charges,
5.900,00
Pensions due to Civil Officers,
15.900.00
Do. to Police,
11,000.00
Private Drainage Works,
292.36
Overdrawa Balanec,
251,905.77
TOTAL LIABILITIES,......S
BALANCE,
876,44-4.22
213,358.39
TOTAL.......
1,089,802.61
114.978.80
115,602,48
528.68
Medical Departments,
21,089.51
Public Works, Recurrent,
Magistracy,
Police,
Gaols,
Fire Brigade.
Sanitary Department,
Charitable Allowances,
Transport.
Miscellaneous Services,
Military Expenditure,
Public Works, Extraordinary,
218.903.85
59,372.23
22.662.47
21.403.00 222,165.90 $7.954.61 14,920.09
322.49 3.258.03 1
1
1,117.64 7,742.39
Balance of Assets over Liabilities, Less Balue of 1803 Loan,
8213,38,39
123.334.14
96,662.40
101,613.41
4.231.09 7.712.86
1,084.79
9,400.92
1,931.01
1,688.06
TOTAL,...
$ 90,024.25
307,265.81
290,808.49
476,869,60
206,451.67
127,716.38
$19,274.89 42,405.28 194,447.57 234,38105 106,664.67
196.30
16,467.02
12,004.10
TOTAL,...
2,641,409.71
2,841,805.20
248,109.08 47,713.59
DEDUCT DECREASE,...............$
NETY INCREASE,
47,718.59
200,395.49
Revenue in 1998,
Expenditure in 1898,
Surplus,........
.$2,918,159.24
2,841,805.20
76,354.01
TOTAL REVENUE AND EXPENDITURE FOR THE LAST FIVE YEARS: 1894-1898, INCLUSIVE,
1894.
1895.
(D.) PUBLIC DEBT.
In 1893 the Government borrowed £341,799.15s, Id. (sterling) for the purposes of certain Extraor- dinary Public Works. The principal of these works were the Praya Reclamation, a Central Market, Water, Drainage and Sewerage Works. The loan was an Inscribed Stock Loan, bearing interest. at 81%, to be paid off on April 15th, 1943. In 1896 a Sinking Fund was created for the purpose of gradually paying off the loan, and during that year the sum of £1.594 9%. 9d. (sterling) was devoted to it. In 1897 the Sinking Fund stood at £5,174. 14s. 4d. (sterling), and during the financial year it has risen to £8,854, 8s. Id. (sterling).
past
(E.) CURRENCY.
The only legal tender is the Mexican dollar, and the British and Hongkong dollar, or other silver dollars of equivalent value duly authorised by the Governor, Silver coins, representing some multiple of the cent or hundredths part of the said dollar, are legal tender for any sum not exceeding two dollars, and the copper or bronze coins representing the cent or one-hundredth part, and the cash or , representing one-thousandth part of the dollar, are legal tender for any amount not exceeding one dollar. There is also a large paper currency in use, in the form of notes issued by the Chartered Bank of India, Australia and China, the "Hongkong and Shanghai Banking Corporation, and the National Bank of China, Limited.
AMOUNT OF PAPER CURRENCY IN CIRCULATION.
The Notes of the Chartered Bank of India, Australia and China, the Hongkong and Shanghai Banking Corporation, and the National Bank of China, Limited, in circulation during the year ending 31st December, 1898. were in amount as follows :--
Hongkong
1896.
J897.
1898.
*.
C.
Reveune,
Expenditure,
Surplus or Deficit,
2,287,203.32
2,299,096.00
11,892,68
2,486,228.89 2,609,878.91
2,972,373.01 2,474,910.37
+184.968.57 486,144.12
$
2,686,914.70
$
C.
Chartered Bank
2,918,159.9
of India, Australia
and China.
and Shanghai Bank.
National Bunk of China, Limited,
2,641,109.71
2,841,803.30
safe
45,504.99
+
76.3540H
$
$
There was in 1898 an additional expenditure of $135,845,85; but this was due to Public Works The amount so expended was Extraordinary, and was therefore chargeable against the Loan. $1,984.15 less than had been estimated.
March,
January, February
3,051,947
8,126,528
449.740
2,808,273
7,676,009
448,587
2,995,966
6,609,031
450,000
April,
2.938.719
6,764,001
448,900
2.836,976
6,439,806
-450,000
June,
2,775,838
6.176,267
448,921
July
2,914,252
5,087,096
150,000
(B.) IMPORTANT CHANGES IN TAXATION.
In deference to the wishes of the Shipping Community the Light Dues were, in 1898, reduce from 24 cents to 1 cent per ton. This accounts for the difference (amounting to $62,531.26) the receipts from this source in 1897 and 1898.
August,
2,917,093
5,747,676
444,905
October,
September,
2,873,076
6,180,333
445,879
2,034,748
6,419,676
449,638
between
Sovember,
2,588,714
5.721,000
439,057
December,
2,878.594
6,799,128
448,975
514
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