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of licence fees which can be reimposed immediately is under active consideration, as is also the question of the collection of duty on liquor and tobacco. It is the intention too that the collection of assessed taxes (rates) should be resumed at un early dato. The Assessment Records were fortunately recovered intact, but they are very much out of date and steps are being taken to obtain an amended list of the names and addresses of rate payers where changes of ownership or Occupancy have taken place.
Banking Facilities: There has been a general derand for increased
banking facilities as the restrictions on withdrawals to two amounts of 200.00 resulted in a virtual suspension of deposito. There was naturally zeluctance to deposit money in a Bank if it could not be withdrawn at will. The matter was discussed at Lecting at which all the Banks were represented wid it was decided that the tire had come for the Banks to open for domestic banking. n authorisation was issued permitting the opening and operation of accounts in Hong Kong dollers with effect from the 17th October, 1945. withdrawals from such accounts were no longer subject to control and the Banks were permitted to make fresh advances. They alo in fact being encourged to assist the two Land Investment Companies who require funds for the reconstruction of buildings, but to show a preference for the reconditioning of residential accommodation rather than office premises. Old accounts zemi un ffected. They are still blocked and cannot be operated. The new measure has resulted in a moderate increase in deposits and for the first few days notes have been returned to the banks totalling an average of perhaps $200,000 a day. This has unfortunatoly not helped the note position to any appreciable oztent as a large proportion of hosrded notes have been returned which were unfit for reissue.
Currency Situation:
The aber of new notes insued up to the 12th
October was as follows: --
hote Issue:
I. 1.
... Government Notes
H. S. B. C. Note:
0.
Chartered Bank Notes
Mercantile Bank Notes
3,000,000.00
5,750,000.00
1,000,000.00
255,000.00
10,005,0000O
Chungking shipment (Courted & iscued tg.8849609.28
Yokohana Spoole Banl.
4,013.810.70
Total Notes issued as at 12.10.45. $22,024,928.98
I think it may now be said that the Loto issue has been successfully launched though the stocks available are only just sufficient to meet curront demands and there is a particular shortage of $5.00 and $10.00 notes. It is hoped however, that further consigments of the notes, which are now
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