I have the honnour to transmit herewith six copies of the Colonial Secretary's Report on the Blue Book for 1913. (C80.) Wt.36076-850. 1125 & 90. 10.14. B. & F. Ltd. F. H. MAY, Governor, &c. REPORT ON THE BLUE BOOK FOR 1913. I.-FINANCES. The revenue for the year amounted to $8,512,308, being $660,449 more then the estimate and $331,615 more than the revenue for the previous year. Compared with the returns for 1912 there were increases under every head with the exception of Fees of Court or Office, Interest, and Miscellaneous Receipts. The expenditure amounted to a total of $8,658,013, inclusive of a sum of $1,247,689 spent on Public Works Extraordinary. The detailed figures for 1913 are set out in the following statements : Heads of Revenue. $ 93,649.44 104,648.41 .. 5,510,560.89 .. 711,534.94 439,189.37 325,115.22 898,480.27 Light Dues Light Dues, Special Assessment Licences and Internal Revenue not otherwise specified Fees of Court or Office, Payments for Specific Post Office Kowloon-Canton Railway Rent of Government Property, Land and Houses The deficit on the year's working was $145,704, and the balance of assets and liabilities showed on the 31st December a sum of $2,659,426 in the Colony's favour. The following is a statement of the revenue and expenditure of the Colony for the five years 1909-1913 The capital expenditure on the British section of the KowloonCanton Railway during 1913 was $236,806, chiefly in connection with the erection of a terminal station. The total expenditure on this account amounted at the end of the year to a sum of $13,521,231. The amount of the consolidated loan stands at £1,485,732, and in addition the advances by the Crown Agents for railway construction amounted at the end of the year to £188,518. Against these items there is at credit of the Sinking Fund a sum of £164,188 and there is a balance of £220,000 unpaid in respect of the loan to the late Viceroy of Wuchang. A2 No new taxation was imposed during the year and no change of any importance was made in existing taxation. The existing valuation for 1912-1913 was adopted as the valuation for 1913-1914. During the year ending 30th June, 1913, no general assessment was made, the difference in rateable value being the result of interim assessments. Increases. The City of Victoria, $164,202 or 1.63 per cent. Shaukiwan, Saiwanho, and Quarry Bay, $4,075 or 1.11 per cent. Yaumati, $1,760 or 0.67 per cent. Mongkoktsui, $2,715 or 176 per cent. Hung Hom and Hok Un, $140 or 0.04 per cent. Decreases. Kowloon Point, $18,835 or 3.56 per cent. New Kowloon, $15,903 or 13:33 per cent. Kowloon Villages, $11,187 or 11.7 per cent. The rateable value of the whole Colony amounted to $12,450,992, being an increase of $138,686 or equal to 1·12 per cent. over the value of the previous year. For the period 1904-1913 the assessment of the whole Colony has risen from $9,929,171 to $12,450,992, an increase in value of 25:39 per cent. The circulation on the 31st December of notes of the three banks having authorised issues was as follows :— ong Kong and Shanghai Bank Chartered Bank of India, Australia and China $18,417,339 5,429,671 704,742 $24,551,752 An Ordinance (No. 13 of 1913) was passed prohibiting the circulation of bank notes other than those authorised, while Ordinance No. 15 of 1913, coming into force on 1st March, 1914, was passed to prohibit the circulation of foreign silver coin. The currency of the Colony consists, in addition to the notes of these banks, of British, Hong Kong, and Mexican dollars and of subsidiary coin. Foreign note circulation has wholly ceased. The rate of discount on Hong Kong subsidiary coin varied during 1913 between the following limits : The total issue of these coins, less those demonetized, now amounts to $36,392,370 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 1913 ten cent pieces of the face value of $1,040,000 were shipped to England for purposes of demonetization. The discount which has prevailed since 1905 may be attributed to the immense quantity of similar coin which has latterly been minted at Canton as well as to the amount of Hong Kong coin minted largely in excess of the needs of the Colony by itself. In 1905 the Hong Kong Government ceased to issue any subsidiary coin and in 1906 it began a policy of demonetizing all its subsidiary coin received as revenue. This policy has been continuously followed since except during a brief period in 1911. Coin to the face value of $7,607,459 has thus been redeemed. The total ssue by the Hong Kong Government was of the face value of about $44,000,000. It is thought that about half of that amount has dropped out of circulation. II. TRADE AND SHIPPING, INDUSTRIES, FISHERIES AGRICULTURE, AND LAND. (a.)-Shipping and Trade. The total of the shipping entering and clearing at ports in the Colony during the year 1913 amounted to 490,228 vessels, of 37,742,982 tons, which, compared with the figures for 1912, shows an increase of 1,609 vessels, of 1,007,933 tons. Of the above, 47,529 vessels, of 25,821,652 tons, were engaged in foreign trade, as against 46,603 vessels, of 24,269,270 tons, in 1912, and were distributed as follows: |