Annual report on Sierra Leone / Colonial Office.

  • Great Britain. Colonial Office.
Date:
[1958]
Catalogue details

Licence: Public Domain Mark

Credit: Annual report on Sierra Leone / Colonial Office. Source: Wellcome Collection.

    30/146 (page 28)
    Sherbro Urban District Council Bo Town Council Expenditure (Actual) 1957 1958 £ £ 12,254 14,106 16,203 16,062 Revenue {Actual) 1957 1958 £ £ 12,272 12,853 17,019 16,879 The combined total revenue estimates of the 144 Native Adminis¬ trations amounted to £799,247 in 1958 compared with £586,572 in 1957. Total estimated expenditure in 1958 was £826,985 compared with estimated expenditure of £679,925 in 1957. Chapter 4: Currency and Banking CURRENCY The currency in the territory consists of notes of the face value of £5, £1 and 10s., bronze coins of-Jd. and Id., and cupro-nickel coins of 3d. and of 6d., nickel brass coins of Is. and 2s. These are provided by the West African Currency Board which has its offices in London and is represented locally by a Currency Officer. Its agents are the Bank of West Africa Limited. At 30th June, 1958, West African Currency Board notes in circula¬ tion in Sierra Leone were estimated at £9,232,512 and coins at £4,678,586. BANKING There are two banks operating in the territory: The Bank of West Africa Limited and Barclays Bank D.C.O. The former has branches at the Queen Elizabeth II Quay, Freetown, and at Bonthe, Bo, Pendembu, Segbwema, Port Loko and Koidu, and the latter at Bo, Kenema, Makeni, Magburaka and at Cline Town and Kroo Town Road, Freetown. Savings Bank facilities are offered by both these banks as also by the Post Office Savings Bank. In the last the rate of interest is 3 per cent per annum and at 31st December, 1958, the amount standing to the credit of 68,469 depositors was £1,616,560 19s. lid. Chapter 5: Commerce The most significant change in the regulations affecting imports during 1958 was the liberalisation towards the end of the year of trade with the United States of America, American account countries and Japan. Value of Imports into and Exports from Sierra Leone 1956 to 1958 1956 1957 1958 Total Imports (a) . £ 23,093,100 £ 28,249,521 £ 23,914,856 Total Exports {b) . 13,184,605 18,345,703 19,613,058 Re-Exports (o) 1,052,462 3,338,182 3,071,913 (a) Excluding bullion and specie. (b) Subject to further adjustments in respect of exports of iron ore and diamonds.