'REPORT ON THE ADMINISTRATION OF THE BOMBAY PRESIDENCY, FOR THE YEAR 1907-1908' [‎17v] (33/137)

Mint;
Currency.
Land Revenue.
Sea Customs,
Bombay.
Karachi and
Sind Ports.
Land Customs.
Opium.
xxii BOMBAY ADMINISTRATION REPORT. USO.-U08.
42. The chief feature of the year was the introduction of the nickel anna.
The new coins were issued to the public for the first time on 1 st August 1907,
and soon became popular, Rupees Indian silver coin also widely used in the Persian Gulf. and half rupees Indian silver coin also widely used in the Persian Gulf. of the value of 10*8 crores
were struck during the year, a decrease of over five crores compared with 1906-
1907. On the other hand, there was an increase of more than four crores in
the value of gold coin and bullion tendered in exchange for rupees Indian silver coin also widely used in the Persian Gulf. . Revenue
exceeded expenditure by over nine lakhs One lakh is equal to one hundred thousand rupees .
43 . In the ‘Presidency Circle, the gross circulation of notes on 31st March
1908 was less by 1 ^ crores than on the same date last year, but no comparison
can be based on the figures for a single month. Taking the monthly average,
and deducting notes held in the Reserve Treasury, there was an increase 5 d the
circulation of 37 lakhs One lakh is equal to one hundred thousand rupees . The figures thus shew an improvement, though not,
considering the expansion in trade, a very substantial improvement, in the
popularity of the Paper Currency. The increase was almost all in notes of the
lower values, the Rs. 5 note being again in great demand for the payment of
wages. The general prosperity is more clearly marked by an increase of over a
crore Equivalent to ten million, or one hundred lakhs. Used especially in connection with money (rupees). in the receipts and of 94 lakhs One lakh is equal to one hundred thousand rupees in the issues of gold, and by an increase of
2^ lakhs One lakh is equal to one hundred thousand rupees in the receipts of small silver. In the Karachi Circle the circulation
of all notes but those of Rs. 10,000 declined, but an increase of 751 in the
issues of the latter—due to the extensive use made of the system of telegraphic
transfers—accounts for a rise of 64'8 lakhs One lakh is equal to one hundred thousand rupees in the value of notes in circulation.
In both circles railway receipts mainly account for the increased encashment
of foreign notes.
44. Mainly owing to the large collections of arrears last year and the
automatic remission of arrears more than three years old, there was a decrease
of 83 lakhs One lakh is equal to one hundred thousand rupees in the Land Revenue demand. The unfavourable season, which
necessitated liberal remissions and suspensions, accounted for a fall in the
collections amounting to 1 crore Equivalent to ten million, or one hundred lakhs. Used especially in connection with money (rupees). and 8 lakhs One lakh is equal to one hundred thousand rupees , or a little less than last year’s
increase. The percentage of collections to demand, in which are included
suspended arrears, was 73’4 compared with 81*9 last year and 69*7 in 1905-1906.
Of the arrears, approximately, 23 per cent, were in the hTorthern Division,
54 per cent, in the Central Division, 14 per cent, in the Southern Division and
8 per cent, in Sind.
45. The net receipts of the Bombay Custom House rose by 17 per cent,
and were the highest on record. This increase was exclusively due to the duty
on imports, which shows an excess of more than 32 lakhs One lakh is equal to one hundred thousand rupees . The export receipts,
which are derived from the duty on rice and rice-flour exported to foreign coun
tries, declined by 16 per cent, owing to a shortage in the crop. The proportion
of expenditure to net collections fell from 4 to 3 | per cent.
There was a further increase of over 3 Mkhs, or 6 per cent., in the gross
receipts, and of 4 lakhs One lakh is equal to one hundred thousand rupees , or nearly 8 per cent., in the net receipts, refunds and
drawbacks amounting to considerably less than last year.
Receipts on the Kathiawar frontier rose by nearly 6 per cent., while those
on the Portuguese frontier were more than doubled during the year. The
latter increase was due, among other causes, to large imports of electrical
appliances for the Cauvery Electric-Power Works in the Mysore State. A note
worthy feature of the year was the expansion t of the petroleum trade vid
Marmugao and Castle Rock.
46. There was a marked recovery in the opium trade after the decline
of the last two years. The low prices prevailing as the result of an unusually
good crop led to a large expansion of exports to China; but as Government has
limited the exports of Malwa opium to China in the calendar year 1908, there