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4-
EXPENDITURE.
C.
Governor
91,035.19
Cadet Service
230,948,92
Colonial Secretary's Department and Legis-
Mature -
58,415.07
Secretariat for Chinese Affairs
18,705.03
Audit Department
51,440.87
Treasury
72,676.59
Harbour Master's Department
350,025.53
Imports & Exports Department.
391,756.04
Royal Observatory\
32,700.51
? Omit
JJ.P
Prison Department
Miscellaucous Service
845,413.82
Judicial and Legal Departments-
271,948.20
Police and Fire Brigade
1,527,097.55
299,746.50
Medical Department
378,128.77
Sanitary Department
536,438.13
#2
Botanical and Forestry Department
€1,428.11
Education -
580,323.92
Military Expenditure -
2,318,654.02
Public Works Department
651,599.00
Do.
Do.
Recurrent
Extraordinary
938,582.38
3,053,525,11
Post Office -
Kowloon-Canton Railway
293,710.10
1,108,838.99
Charge on account of Public Debt
800,336.88
Pensions
389,845.50
Charitable Services
78,331.61
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.
A new valuation for Assessment was made for the year com- mencing 1st July, 1921, resulting as follows:-
Increases —
The City of Victoria
$872,540
The Hill District
8,150
Shaukiwa, Saiwanho and Quarry Bay
9,700
Hongkong
Bages
36,924
Kowloon Point
124,615
Yaumati
86,705
Mongkoktsui
79,630
Hunghom and Hok Un
40,285
Kowloon Villages ..
15.60
New Territories
13,546
TOTAL
$15,751,652.40
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 $6,478,740.
The following is a statement of the revenue and expenditure of
the Colony for the five years 1917-1921 :-
Revenue.
15,058,105
Expenditure,
14,090,828
18,665,248 16,252,172
16,524,975 17,915,025
1917
1918
1919
1920
14,689,672
14,489,594
1921
17,728,132 15,739,652
The rateable value of the whole Colouy amounted to $18,696,680 having increased by $1,287,701.
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 Cor-
poration
Chartered Bank of India, Australia, &
China
Mercantile Bank of India, Limited
$40,395,225
9074,137
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 subsidiary coin, which continued at par throughout the year.
The total issue of subsidiary coins less those demonetized, now amounts to $20,789,370 nominal value, and they were up to the yoar 1905 readily absorbed at par, large quantities being taken by the neighbouring provinces of China. During 1910 ten cent pieces of the face value of $5,028,000 were shipped to Calcutta for purposes of demonetization. The discount which prevailed be- tween 1905 and 1916 may be attributed to the immense quantity of
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