G
The amount of the consolidated loan stands at £1,485,733. Against this there is at credit of the Sinking Fund a sum of £432,592. The Local Loan under Ordinance No. 12 of 1916 amounts to $3,000,000 and there are the sums of $1,176,086 and £98,441 at credit of the Sinking Fund.
A new valuation for Assessment was made for the year com- mencing 1st July, 1923, resulting as follows:—
Increases :—
The City of Victoria
$716,360
The Hill District
21,465
Shaukiwan, Saiwanho and Quarry Bay
18,555
Hongkong Villages
94,909
Kowloon Point
79,110
Yaunati
125,165
Mongkoktsui
40,600
Hunghom and Hok Un
31,995
Kowloon Villages.
3,890
121,722
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Colony by itself. In 1905 the Hongkong Government ceased to issue any subsidiary coin and in 1900 it began a policy of demonet- ising all its subsidiary coin received as revenue. This policy was continuously followed till 1918 except during a brief period in 1911. Coin to the face value of $26,235,459 has thus been redeemed. The total issue by the longkong Government was of the face value of $44,049,830.
STATEMENT OF SUBSIDIARY COINS. Received and redeemed (from 1911) Blue Book 1911. Amount in circulation. Since received:—C'opper coin.
$43,999,830
1919... 1923...
25,000.00 25,000.00
50,000
Total Amount put into circulation .....
...$44,049,830
Less since redeemed :—
1911... 1912...
...
...5,527,450.04
...1,040,000.00
1913...
...1,040,000,00
1914...
...5,000,000,00
1915...
...5,100,000.00
1916...
...5,028,000,00
1918... 1922...
500,000.00 ...3,000,000,00
Total Amount of coin in circulation in 1923...$17,814,370.96
26,235,459.04
New Territories
The rateable value of the whole Colony amounted to $21,059,700 having increased by $1,253,771.
During the period 1914-1923 the assessment of the whole Colony has risen from $14,410,103 to $21,059,700, an increase in rateable value of $6,649,597.
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
$44,681,120
12,837,330 1,455,649
$ 58,974,108
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 thronghout the year.
The total issue of subsidiary coins, less those demonetized, now amounts to $17,814,370 nominal value, and they were up to the year 1995 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 Calcutta for purposes of demonetization. The discount which prevailed be- tween 1905 and 1916 may be attributed to the inmense quantity of similar coin which was minted at Cantou as well as to the amount of Hongkong coin minted largely in excess of the needs of the
IL-SHIPPING AND TRADE, INDUSTRIES, FISHERIES, AGRICULTURE, AND LAND.
(a.)-SuterING,
The total Shipping entering and clearing at Ports in the Colony during the year 1923, amounted to 778,222 vessels of 53,402,239 tons, which, compared with the figures of 1922, show an increase of 69,978 vessels, and of 6,835,475 tons.
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