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A comparative statement of all receipts and disbursements of Porto Rico for the fiscal years 1914 and 1915, expressed in United States currency, follows:
Repayments of loans..
Roads and bridges.
Loans to municipalities and school boards.
The bonded indebtedness of the insular government of Porto Rico on June 30, 1915, was as follows:
On September 26, 1914, the resignation of Walker W. Vick, the general receiver, was accepted by the President. Mr. Clarence H. Baxter was appointed to succeed him, effective September 25, 1914.
The political disturbances to which reference was made in the last report continued throughout July and August, 1914, and this, together with the war in Europe, whence come the greater portion of imported foodstuffs, caused abnormally low collections during the last months of that year. However, in recent months collections have regained their normal volume.
Since my last report the receivership changed its fiscal period to the calendar year instead of the so-called convention year ending July 31. Under the terms of the convention, amounts due to the fiscal agent are determined by calendar years, hence the change mentioned will simplify the accounts of the receivership; also its annual reports will more clearly show the division of receipts as between the Government and the fiscal agent. In view of this change, there is published a financial statement of the receivership for the five months ended December 31, 1914, and future statements will be published by calen
Statement of the customs service, Dominican Republic, from Aug. 1, 1914, to Dec. 31, 1914. Balance....
$216, 232. 94 Customs collections.
1, 205, 875. 13 Miscellaneous...
6, 636. 90 Readjustment, sinking fund.
1, 495, 294.97
74 533. 24
428, 569.05 500,000.00 180,000.00
Cash in transit (deputy receivers).
$6, 404. 34 13, 482. 37 23, 859. 57 5, 182. 72
971.86 5, 471. 11 3, 784. 78
202, 419. 82 50,000.00
1, 495, 294.97 The results accomplished by the receivership in amortizing the indebtedness of the Republic authorized by the convention not only have been satisfactory, but have exceeded the expectations upon which the plan of repayment was based. The following statement shows in detail what has been accomplished toward liquidating the convention debt:
Statement of sinking fund-Dominican Republic $20,4900,000 scom: administration
loan, as of Dec. 31, 1914.
From general receiver of customs, account calendar year
1908. 1909. 1910. 1911. 1912. 1913.
1914. From interest allowed by fiscal agent. From interest received on bonds purchased.
$331, 757.53 200,000.00 260, 820.90 394, 092. 24 482, 772. 25 782, 908. 34 207, 666. 01
83, 103. 93 235, 141.07
2,978, 262. 27
For $2,530,250 customs administration bonds purchased (par value).... 2,530, 250.00 For premium paid on above bonds.
7, 185. 25 Cash balance: In sinking fund....
$223, 771. 46 Due from fiscal agent, general account.
217, 055. 56
440, 827. 02
2,978, 262. 27
ASSETS IN SINKING FUND.
$2,530,250 customs administration bonds at par value.. Interest on above bonds accrued but not collected. Cash balance....
52, 713. 54 440, 827.02
3,023, 790.56 In addition to the $20,000,000 debt authorized by the convention, a secondary loan of $1,500,000 was authorized in 1912, and placed as of January 1, 1913. To December 31, 1915, $565,000 of this
secondary loan had been liquidated. The balance of $935,000 is being liquidated semiannually and will be entirely paid off by January 1, 1918.
CHAS. C. WALCUTT, Jr.,
Acting Chief of Bureau,
The SECRETARY OF WAR.
REPORT OF THE PHILIPPINE COMMISSION.
(July 1, 1913, to December 31, 1914.]
MANILA, July 23, 1915. SIR: The Philippine Commission has the honor to submit fif. teenth annual report, covering the fiscal year 1914 (the period from July 1 to December 31, 1913), and the new fiscal year 1914 (the period from January 1 to December 31, 1914).
On December 19, 1913, the Legislature enacted Act No. 2305, making the fiscal year uniform for all branches of the government and coincident with the calendar year. Formerly the fiscal year for the insular government ended on June 30 of each calendar year.
Attention is called to the fact that the part of this report which refers to legislation also embraces part of the fiscal year 1915, for the reason that the Legislature was in session on December 31, 1914, and did not adjourn until February 5, 1915; consequently data with respect to the work of the Legislature, to be of any value, must cover the entire period of session. If that part of this report which refers to legislative matters were closed as of December 31, 1914, it would show no more than the status of bills on that date, which, in many cases, would be changed on the following legislative day.
EXCLUSIVE LEGISLATIVE JURISDICTION OF THE COMMISSION.
Acting within its exclusive legislative jurisdiction over all that part of the Philippine Islands inhabited by Moros or other nonChristian tribes, the Commission enacted during the period covered by this report 48 acts, of which the following are perhaps the most important:
No. 2280. An act appropriating the sum of P50,000 for the establishment, in that part of the Philippine Islands inhabited by Moros or other non-Christian tribes, of colonies and plantations for the cultivation of rice and other food cereals, for the better distribution of the population, and for other purposes.
No. 2287. An act prohibiting the sale of intoxicating liquors, with certain exceptions, in the Mountain Province, Nueva Vizcaya and Agusan, except in certain districts,
No. 2309. An act changing the name of the Moro Province to the department of Mindanao and Sulu, placing the province of Agusan under the jurisdiction and control of the governor of the said department, and for other purposes.
No. 2396. An act making extensive to the department of Mindanao and Sulu the provisions of the provincial government act and other acts relative to the cedula tax and increased cedula tax, under certain conditions, and repealing