590 GENERAL CONSIDERATIONS 



of the Islands. The births during the same year amounted to 2131, and the 

 deaths 1299, showing a total increase of population of 838. The average birth 

 rate per thousand was 38.6, and the average death rate per thousand, 23.5. 

 About three-fifths of the entire population is colored. 



CURRENCY AND BANKING FACILITIES. 



Both English and United States money pass as security in the Bahamas. 

 The British sterling silver money was declared the currency of the colony in 

 1839, but of late years American money is common and passes at its face value. 

 In addition to this, the Bank of Kassau has a note issue of £6500. These bank 

 notes are in circulation throughout the Islands, but especially in Nassau. 



There are two banks in the Bahamas, both located in Nassau. The Bank 

 of Nassau fills the place in the Bahamas that a national bank does in the 

 United States. It has a capital of £10,000, with power to increase to £25,000. 

 As just stated, its note issue amounts to £6500. The following statement of 

 the liabilities and assets will give a good idea of the standing and the amount of 

 business transacted by this bank : 



GENERAL BALANCE SHEET OF BANK OP NASSAU FOR YEAR ENDING 

 DECEMBER 31, 1902. 



LIABILITIES. 



Capital — fully paid £10,000 



Reserve fund 12,500 



Due by the bank on current accounts and deposit accounts 35,271 10 1 



Note issue 6,500 



Profit and loss — amount brought forward £ 198 12 7% 



Net profit for the year 2,631 13 41/2 



2,830 6 



£67,101 16 1 



ASSETS. 



Bahama; government debentures £7,600 costing £ 7,819 



Bills of exchange for remittance 2,864 9 6^ 



Loans and discounts 27,037 3 2 



Other debts due the corporation 4,518 3 dV^ 



Due from other banks 18,002 11 5 



Cash in hand 6,860 8 2 



£67,101 16 1 



The second bank is a savings institution. It is a government enterprise 

 attached to the general Postoffice at Nassau. Deposits are limited to £200 

 for any one person, and £10 for a single year. This bank had in 1902 a vested 

 interest of £17,886 12s. lid. The rate of interest is 2^ per cent. The follow- 

 ing table illustrates the volume of business conducted by this bank : 



