is bounded on the south by the provinces of Tayabas and Batangas, on the north by that of Rizal, on the west by that of Cavite, and on the east by the mountain chain separating it from the Pacific Ocean. ECONOMIC CONDITIONS. At the end of the fiscal year terminating June 30, 1904, the economic situation of the province was not in the condition it is at present, for the majority of the taxes had not been collected owing to the fact that the province had not had a continuous administration with relation to its financial affairs, due to the fact that during the said fiscal year it had had five different provincial treasurers, who, though imbued with the desire to have the province reach an adequate economic level in relation to its resources, were unable to bring this about on account of the short time they were retained in office. Although the province had on hand at the end of June, 1904, 39,685.94 and $6,583.32 Mexican, and no bills to meet except for current expenses remaining unpaid, a great many taxes, as above stated, had not been collected, it having been estimated on said day that for the land tax alone the amount of 243,633.36 was outstanding in spite of the fact that P130,048.44 had been collected during the past fiscal year for land taxes. During the period embraced between July 1, 1903, and June 30, 1904, the largest revenues collected were under the following heads: Other amounts of importance were also collected under various heads, as will be found in the statement submitted further on. One of the questions deserving the special attention of the provincial authorities was that relative to the exchange of the old currency for the new. Several circulars were sent by the intelligent provincial treasurer, Mr. Carrol H. Lamb, to his deputies in the municipalities, recommending that they exercise all care and put forth every energy to bring about expeditiously the exchange of the new currency for the old coins which might exist in their respective jurisdictions. This same official was constantly in the pueblos, either giving instructions to his subordinates or giving the inhabitants to understand that if they failed to exchange the money in their possession at once harm would result to them, as there could be no doubt that the rate of exchange would rise as time went on. This office also recommended to the municipal presidents, in a circular dated November 30, 1904, that they render all necessary assistance to the deputies of the provincial treasurer and send them sufficient copies of the proclamation of the honorable insular treasurer to be distributed among the inhabitants of their districts, including the barrios and most remote places, in order that they might be duly informed of its contents. Up to June 30, 1905, the following exchanges had been made with the public: P155,894.86 for $180,681.35 Mex.; with municipalities, P7,774.29 for $8,625.37; with the insular treasury, $190,432.10 Mex. for P 165,629.39. The following tables clearly demonstrate the transactions of the provincial treasury: Sale of office supplies. in bank without classification Industrial tax. Cedulas Stamps.. Land tax. 55.00 33.75 17.90 Receipts from Mr. Tuther, deputy of the insular treasurer, for sum deposited Invoices Mr. Lukenbill, the last acting treasurer. .83 At 1.13 4, 434.03 |