The value of the Straits Dollar was fixed at 2 shilings and 4 pence so as to stablised the currency. This value remained at the same level till 1967.
The Hall 54m Clock Tower that is towering between the Singapore Town Hall and Victoria Memorial Hall was inaugurated. The clock itself has a 4m diameter, weighs a tonne and cost $6,000. And was donated by the Straits Trading Company to the Singapore municipality.