NOTICES OF FIRMS
NOTICE.
THE STRAITS OURRENCY COMMITTEE.
www
URING MR, K. OLDORP A Temporary SIR THOMAS JACKSON'S EVIDENCE. DURING ME KOLO, Ceme has been appointed MANAGER. Mr. P. H.
On the second day of meeting of the Straits KIRCHHOFF has been Authorised to ign Currency Committer, 25th November, 1902,
HAMBURG-AMERIKA LINIE Hongkong Office.
Per Procuration,
Homem, rd June, 198
CHINA COMMERCIAL STEAMSHIP
COMPANY, LIMITED.
司公限有船翰
11890
中
OFFICES of the above Catapany here
THE OPENED the
ROAD CENTRAL 28D FLOOR.
Hongkong, 21st Marab, 1903,
BNG
924
CHINESE AMERICAN COMMERCIAL COMPANY,
公
IMPORTERS, EXPORTERS AND MANUFACTURERS.
THIS Company's Offices are Established at Noa, 20 and 21, CONNAUGHT ROAD opposite Douglas Plor.
Henkgoug, let May, 1903.
11321
A. S. WATSON & CO., LIMITED.
AERATED WATER BOTTLES.
THE
THE system of sending out Bottles on loon having for a long time past caused dissatisfaction to our customers and lows to onresives, we have decided that
On and after the Rar JULY next all Aerated Water Bottles, Ginger Beer Bottles and Syphons supplied to customers will be charged for at the following rates:
$1.20 er Dozen 18.0J do.
Bottles Syphons
**
Ca
On the return to our Factories of Buttles and Syphons in good condition, that bars bon previously charged up or paid for, full credit will be given at the store.rates.
A. S. WATSON & CO., LIMITED, The Hongkong Dispensary.
[1763 Hongkong, 19th June, 1903.
VICTORIA DISPENSARY. AERATED WATER BOTTLES. These of un past caused THE system of sending out Battles on loan lissatisfaction to our customers and loss to ourselves, we have decided that
On and after the iBT JULY next all Aerated Water Bottles, Ginger Beer Boldes and Syphons supplied to customers will be charged for at the fallowing rates:
Bottles...
$1.00 per Dozen
elo. Syphone... On the return to our Factories of Bottles and Syphons in good condition, that have been previously charged up or paid for, fuil sredit will be given at the shove rates
**
-If a dollár of the new coiunga was by law declared to be sufficient discharge of the obliga. tion for a dollar note it would be all fight ne far as the tok is concerned -It would, if there were present: Sir David Barbour. K.C.S.I., K.C.M.G. (Chairman), presiding, Mr.hey were always exchangable for gold, but not W. Adenison, C.M.G.. Mr. G. W. Johnson, Mc.otherwise, because they the native would simply say: This represents the 100 cent worth of W. Blain, and Mr. A. E. Collins (Sesretary).
silver; it is only worth $3 or 35, or whatever it Sir Thomas Jackson, Bart,, of the Hongkong and Shanghai Bank, was called in and examined. might be. I elll not take fuis again." But if he can ge to the Trosury there sul get gold, After a fow quastione an to his experience, the
it would be a suitable modinm of exchange. examination proceeded as followe
(Chairman)-Have you given any attention to the quation of substituting a gold standard for a silver standard in the East That is a question that has received attention at intervais for a great number of years.
That is my usporinen too-Some people think we have tonshed bottom.
But you cannot say we have arrived at the bottom yet P... Well, I would rather lack a rise than a fall.
would
'course, is not beyond the possibility of-exhaus- tion, bnt. It in there, and they will give you gold for the rupee at present.
THE HONGKONG DAILY PRESS. SATURDAY, JUNE 27TH, 1903-
* Why ?-Well, they are surrounded by allver- ↑ (Chairman.) I think they will give you gold taking the present Mexican dollar in exchange It is, but so far there has been no turning ?-- and giving them the new calus ?It would be In my experienos I have never yet known ausing countries all round, and it would have to for the rupees if you go to the Treasury,
(Mr. Joluwon.) | As a matter of practice they all right if the new colus were the famo weight great, big slomp of this kind, that there has not be a thorough measure or not at all. Gold
been a reaction. Trae from decade to decade, would have to be as fres in the Treasury in may do it, but they are not bound by law toloit and fineness as the Mexican doller,
(Chairman). They may not be bound by law, the parity has been lower as compared with gold. Singapore and Penang as it in in the Bank of That is my experience. When there is a great Englund in exchange for a note, and the day and I believe use of, but it comes to the same fall every suo is very much frightened, and then they would refuse to cash a note for gold, from thing if they will do it. The gold lacking, of there is a certain eruount of recovery, and then that day their scheme would break down."
From that day their currency
from that day their cur- the full went on again.
sink →→Yes,
(Mr. Johanon) They will givo, you gold as Lucy would sink. There is an erroneous opinion among some of the people about Java, long as they have got it, but there is no breach (Chairman) If they do not do it, there Java is a case in point. There is no gold in of faîtli with the publio if they clo vol doit, Jara comparatively speaking in Java there is In there anything eleo yat would like to say no gold. They have silver, but their silver is would be no breach of faith in India.
(Mr. Johnson.) They are not bound by law to "on a par with guld always Do the people understand gold in the Straite ? on the subject?—Yo, Sir, I do not know that
They use the silver coin of Holland?—Yes. | do it?--India is not a parallel ense at all; if --All the Eastern people understand gabl|thum is, but if you have any questions that.
I think I have seked all the questions that tende wont inther against Java and the banks standard wenla ga, thoroughly, but they use it for terning into gold crur to you I will be very glad to answer them well, at all events this last year the balance of you did not give it in the Straits the gold lenf and things of that kind. The Straits are:
occur to me. Perhaps Mr. Adumson will have there and some of the merchants were shipping larga bayers of gold.
something to ask? There is our thing i think the coius largaltver coius to Holland, Whateyor and they were received as if they had been gold ought not to be trat sight of
They were not able to do so, but they do now? Now that is maintaining their gold
Yes. I am very glad to hear wit. It is un importance others way attach to it, I'look ngau | coins. n low level of exchange as being very much in carrancy,
That I quite understand?Similarly in sound position. India was in such desporats favour of silver-using countries as against the
straits, it had to take desperato measures, but that gold. For instance, now before the mints worn Japan.
the average rate
In Japan they have a large gold reserve, doo not apply to the Straits Settlements, far closed, fact, 25 repose were equal to 100 dollars are they not? They have a gold reserve and there is nothing but prosperity. The Straits whereas at the present rate, 145 or 110 they slways cash nates in gold if you ask them. rather bolio their sama; it is uncher a goo
is They maintain it there, but I think it would ploes to be in. rupees or something of that kind equal to 100 dollars, consequently when they are be difficult and a very expensive thing for shipping rice and other things escompared with the Government in the Straits to establish e Burma rice from Saigon or Bangkok, or gold standardt. I would very much like to see rics from Wahu in China, a silver-using country exchange in the Straits anything you please, baan vory grest pull over a gold-using country, It would suit my personal book and all who and though statistics show that that has not bare investments in the Straite. It would suit told to anything like as great so extent as from the Bank I have represented so long; at the a theoretical point of view, you would look same time I have given you my views as they
pos as a certainty, at the suge fime 1 occur to mo. think it toast tell in the future, and I think
I wished to know if it had received your personal attention-Yes, it has.
And have you formet say opinion as to the expediency and possibility of introducing a gold standard -I think the introduction of a gold standard would be attended with very great
diffiealticą.
In what places -In the Straits. In the Etruite Yo
My meaning is this: there are men in Ioits and in every town of importance in India who thoroughly understand all about geld and the ratio between gold and silver ?—Yes.
But the bulk of the population woull have se idea of the relation between gold and silver. Is it differcut in the Strails Satlements, do you think -No, 1 bould say it is not. I should say the bulk of the people do not know much about gold, but there are a great many mer chants in the Straits who know about golf, who know as much as the goid-doulera of Indin.
Aa much ne anybody in the City of London ? Quits impurile?--Yes Looking at condition as far as we eu fure-Much more. There is no broker's office is cast them you think it impossitde --As far as London where they are so familiar with gold as we can forecast then it is absolute impas they are in the bazaars in the East, sibility,
Do you think it would be possible to have a gold standard in Chins ?—I think it would be quite impossible.
Do you think it would be expedient to have a gold standard ju Hongkong if there was a silver standard in China?-I am afraid it could not be managed.
You think not?—No, the whole of the Hong- kong trade Hongkong is a very small island and its main importenon is in a depot for the whale of the South of Chinu and the arrency which the South of China' would have would be the carruacy that we would have to havo in Hongkong.
Hate you lived at all in India?--No, I have passed through Bombay theen times: my at most stay there was a fortnight at a time; bat, of course, we had an enormans bnziness with India from Hongkang.
Is there any other objection which meats to you P. Well, I think we must a'l admit that the trade in the Straits Settlements is at present The Straits have made a very prosperant one very great progress, and there is a good old proverb of leaving well enough alone that might
ceone to some of us,
Se that on the whole you are not in favour of the shungs?-1am pot in favour of the obangs
on India-in
that the wodney will be for a very large export from the silver-using countries with this low rate of exchange, and if there is a large export, there will be a large import, so that the volame of trade should improve. 1
You are aware that that is a disputed question ?---I said 93, but I do not are bow it cau bo a disputed question. Here is an article that is exported largely from Chiun now, hides and tallow and things of that kind that were impossible to he orported long ago when we had You recognise that the fall in silver, the falla de axebangs. There are an hundred and one in the eaine of silver na compared to gaid, her articles exported from China now that were been a very serious matter?—I do, and I feel impossible 24 or 30 years ago. it, that is much pere.
Then as regards the Straits Settlements, what. your opinion The Straits Settlements are in a somewhat different plane. They are for-t it can be avoided, tunate enough always to have a surpins of exports over itoports, and it would be possible to establish a gold currency in the Straite, but at the same time there are many difficulties
Have you You are not singular in that. connected with doing that. For instance, the outstandings there ure quormous. The Straits formed any opinion as regards the future price I should say on an average import $20.400,000 of silver?-It is rary very hard to say anything annually, and these all go into the surrounding about that because we have been so disappointed 1764ates. Some of them go to the Malay Proin times past. We have done al we could to vinces; they go to Achen. Sism; some go to try and find out what was the bottom of vilver Saigon-all over the place, and Mexican dollars and each time we found the bottom there was a
lower bottom s ii). are the currency of all those places.
VICTORIA DISPENSARY. Hongkong, 10th June, 1993.
WATKINS, LIMITED. AERATED WATER BOTTLES.
THE
THE sys-hy of sending out Bottles an loan baring for a long time past cacard dissatisfaction to our enstomers and loss to ourselves, we have have decided ibut
On and after the lar JULY naxt all Auratol Water Bottion, Ginger Beer Botties and Syphons supplied to customers will be charged for at this following rates:---
Botting
$1.20 per Dozen 18.00 Syphous... On the return to our Factory of Hottles and Syphons in good condition, that have been previously ebargel up or pail or, full credit. will be given at the above rates.
ενι
WATKINS, LIMITED. Hoogkong, 19th June, 1903,
[1765
CHEONG SHING.
GENERAL EXPORTERS.
DEALERS IN
昌
JEWELLERY. DIAMONDS. PEARLS, PRECIOUS STONES, SILKS, IVORY WALES, EMBROIDERIES AND CHINESE CURIOS.
Wholesale and Retail Prices very moderate. No. 39, QUEEN'S ROAD CENTRAL (Opposite Messrs. C. J. GADP? & Co.L Hongkong, 16th May, 1903,
FOR SALE.
14
DISCARDED STEEL WIRE CABLE.
For Particulars, apply to-
JOHN D. HUMPHREYS & SON,, deral Managers, Hongkong High Level Tramways Co. Ld. (1736 Hongkong, 17th June, 1903.
CHARLES DAY & CO.,
LONDON, ARE THE SOLE EXPORT BOTTLING AGENTE
JOE
Well, I suppose even though the Straits Settlements went to a gold standard those dollars would still be imported for transmission to the places you have mentioned -Yes, I think they would. I think they would still go on fuporting dollars as they do at present.
And exporting them to these various places? -You mean the Strails.
Yes, the Straits-Yes. I think they would. The steaners all go to the Straits pretty wall, and then branch oft in different directions to these different places.
1f5
Then they would go as article of merchandise rather than as coin-They go as coiu to these plaços; we cannot call silver in the Best merchandise,
No, but it would becoine merchandise in the Struita Settlements if the Straite Settlements half a gold standard -Yes, and demonetized it.
You have been disappointed like many other people -We have boon disappointed like many other people, but this we do know that silver is not mined now for itself. No person goes out deliberately to mine silver; they merely get it as a bye-predact,
In many places they are mining it ?-This is the most favonced wines. They are not starting new minos; they are not looking for About twenty-five or thirty years silver. ago they were exploring all over Mexico, Colorado and Nevala, looking for silver minen; now no person looks for a silver mine. It is only the best that are being worked for silver. The silver that is coming on the market new is simply a bye-product from the mining of had and other things.
And that makes it particularly diBoult to say what the price is likely to be in the futum ? very diffugit point, sir; very
If they had a' gold standard, they mist|--That is demonetise the Mexican dollar --Yex.
It would not be possible to have a gold standard with the Mexican dollar freely circalating They would lose their character as money in Singapore and Pouang.
difficult.
I believe the production in the last years his not fallen off-No, it has not fallos off.
It has rather incroneed P-Slightly increased, Did it fall off after India demonetised silver
į
Do you think the advantage is permanent think it would tend to increase as time goes on. You think it would tend to innranse us time goes on; you think that prices and wages do not get adjusted to thy now rate of exchange in time? No, not quite; to a certain extent they have, but not quite....
You said that a fall in exchange increased the exports and that that led to an inbrease in the imports - Yes..
Now, thern is a very curious oraz is connection with the matter which I do not think has beou answered. Suppose there was a silver genntry and a gold country; a fall in exchange would increase the exports and increase the imports would it not, in the silver country? That wouk
bo the tendency, yes.
And a rise in exchange would have the opposite affect Weald huse the opposite effect-check exports.
Looking to your experience in the East, ws have dake your opinion, which of course is valuablo to us?—I have just this further to say: I was in Shanghai in 1867. When I went
of were tos and silk. Now toa und silk form a to Shanghai the only items of export van heard
very small proportion of the exports. The lor exchange there has enabled them to export all sorts of other items.
What do they export now-Fidos, tallow. wax-all sorts of things; in thet, in a ship of 4,000) tons burthon you will find tea and silk do nal occupy 5 per cent, of the cargo.
I suppose the reduced export of tea is dan to the competition of India and Ceylon Yen. but still notwithstanding that the exports from China for the ten years ended 19M were doublo what they wore the previous ten years.
Measured in silver or in gold :—Measured in silver.
Tart of that would be due to the fall in silver? Yes, largely I should think, making the additional export possible hearing out to my mind, what are just been saying to you.
"Are you not arguing post har ergo, poplar huc. There may have been other things that affect the trade besides the fall in silver.
(Mr. Adams) I think, with Sir Thomas that the explanation of this as regards China and Singapore, the great increase in produce has been the low exchange.
(Chairman) I have put questions to you which may appear to be in opposition to your views, but they are not done with the
(Chairman.) If you did not give gold in India for the rmes the gold standard would disappear They did tot always give it.
(Mr. Aluvion) I do not kuow about that when you are going to put all this upon us ¿-- Do you not remember the Coronation number of the Straits Timics that canie out; why it
so good to live in as the Straits. showed there was no place this side of Paradiso
(Chairman) Would you like to add any. thing to what you have alrendy said --Not at all. I think you have all my views about it.
Rie UHADWICK
M
KEW
DENTAL SURGEON,
No. 39, QUEEN'S ROAD CENTRAL.
Oce Hours-0A.M. to 3 PM, Humkon. 16th Juno, 1903.
(1721
PURE FRESH WATER
THE HONGKONG STEAM WATEK
BOAT CO. L.D. is prepared to supply PURE FRESH WATER to the Shipping, both for Deck auf -- Boilers ANY QUANTITY of
Call Fing W.
J. W. KEW, Manager.
1st Floor, 37, Canoanght Road. F1708 Korking. 13th June, 1908, AUTOMATIC MAUSER
PISTOLS.
CALIBRE 17€ m.n. With CHAMBER for 10 CARTRIDGES FIRING 10 SHOTS in 2 SECONDS.
STEMSSEN & CO. Rongkong 3rd October, 1900.
f
from $1.00 0.30 ...from $1 to $5.00 per dozen 0,60
HCAKES, decorated
TIGH-CLASS CHRISTMAS'
Plain Christions Cakes... German Sand Cakes Assorted Pastry Cakes Scotch Bunx Fresden Stollen Mince Pies Chicken and Ham Pies
***
from 1.50
-
Ex
2.00
.... per dozen 2.40
from 300
izen
5,00
Chicken and Ham Patties... Game Pies
་ ོ
Christmas Puddings, &c., to Order.
But then, take the gold country. The full in /object of opposting. I do not say that I hold Praya East; ANGLO-AMERICANSTORES;
exchange in the ease of the silver country is a rise in the case of the gold, and the imports and the erports of the one are the imports and the exports of the other No: I would say if you fined a gold standard you would have Boctuations in the exchange.
a different opinion; I merely wish to get the arguments pro and eou on the evidence?I came here to give you my opinion as well as I could, and I have done so.
Please apply to WEISMAN & CO., 14, 64, Elgin Road; or ROYAL ERATED WATER DEPOT, Ice House Street.
Hongkong. 19th December, 1902. (17-1
NOTICE.
WANG HING,
Or. Adamaon) You have grent experience of banking matters in the East, and you know the conditions of trade in Singapore and the W Into taking o silver country dealing with Archipelago, withough you have not lived there. gold country the fall in exchange if you look Do you think that if we had a gold currency silver paint view with s taken dollar, which would of course at it from increases the international trade, the imports mean the restriction of the supply of dollars, and osports, but that fall in exchange that it would not be necessary outside of thet becomes a rigs in exchange in the gold country: to have the Mexican flowing in and out for the and that riso in exchange should diminish the
A
of
But not elsewhere?-Rus not elsewhere; it -No, I do not think there has been in dns year imports and exports, the international tradenduct of the trade?I bave just mentioned ?
would continue the currency of the people.
Yeni think that with a gold standard the Mexican dollar would be used very largely as currency inside the Straits Settlements P-1
would be altogether used; I do not think the people of the country would handle the gold at all.
Supposlug they had revenue to pay the Government they could not pay it in Mexican dollars Then they would go and exchange it.
They would go nud exchange it f Your opinion I gather is that alongside the
that to Sir Dark Barbour.
I wanted to bring that out quite clearly. a failing off, but the big increase that might There is that difficnity, which is rather a puzzlo ? hare taken place, I think, was stopped by India What I am speaking of at the present time because it really is an important point. demonetising wilver, and the subsequent drop in is the exparts to Americs and to Europe from its price.
Are you prepared to suggest any means by which a gold standard ould be introduced into.
the Straits Settlements 51 it were decided to introduce it?--The only way they could do it would be to accumulate the stock of gold, and simply exchange it for dollars and notes.
But you could not exchange it for Mexican dears; you would get all the Mexican dollars
difficulty.
JOHN JAMESON & SON'Standard and the gold coine, and the in the world? You would, y's, that is the
WHISKEY.
And on esck Label must be fauźd the following Notice und Signators.
"In order that Consuiñera may feel assured of genuineness, we would request attention to this one Special Export Label, and to our Trade Mark and Nous on Ceras, Capsule and Casey, also to age mark.
Han farrison Hon
159.2
CARBOLINEUM-AVENARIUS
USED FOR OVER 25 YEARS.
450 LOS. NEZ
IN CARS OF
TRADE
GARBOLINE
MARK
AVENARIUS
NET.
IN TINS OF 45 LBS,
subsidiary coins (colns subsidiary to the gold coinsge) there would be a considerable circals tion of Mexican dollars also ?--Yes, I qui sure there would be.
Are there any other objections that appear to you There would be a difficulty about the outstandings there at the present time, and ther a gud deal would depend upon what ratio
you would fix.
Then the difficulty crops up: what will you do with the Mexican dollars
You would loses great deal on them if you gave gold freely for them --Who would be inclined to bear that less?
(Chairman) Sir Thomas said that." (Mr. the Fant. They will be largely stimulated by e | Adamaon.) I want to bring that out again.- low level of exchange, beyond doubt they have I do not think that any action the Straits Government could take would influence the beon, and they will be.
surrounding markets or the willions that use silver. It is the money of the people, without doubt, and no magician's ward can change it,
It is pretty evident that at the time the fall in exchange taken pises there is a stimulus to exports; that I think must be admitted ------
But the question is whether in the long ran that would contiane --I do not as why it should act.
Still you are aware that it is a disputed question ?--Yes, I am quite aware of that.
(Mr.Johnson.) You used the expression “gold currency" a little while ago, two or three times; would you expect, supposing we had a gold ataud | ard established in the Straits, that there would be auch gold in circulation or require to be in circulation?-Oh, I think so. at the start,
I do not know whether you read the report of the Indian Currency Committee of 1893-1899, ordoubtedly. of which Sir Henry Fovler was chairman Yes, I did.
The majority of the committee reported that the fall in exchange did not give a permanent stiúnius to trado?--Yes, I am aware that was the finding of the committee, but certainly my experience in Chica was the contrary to that.
You could out, safely say that if anybody comes with a Mexican dollar you will give him say 28 for it? I say that that in the difficulty see You would be swamped by the influx of What do you all the outstandings-Well, Mexican dollars?—The telume of Mexican
Now there is another argument about the for instance, the Straits Government's circola-dollar that is to be had, the quantity of them tion is 19 lukke at present by the latest that is about would make it impossible to pat atlasine given by the fall in exchange. If
gold Backing to thom, as it is said
1'o you mean of nutés 7-01 notes, yes, well, they would love to redeem them, I should say
af whiatorer rate they would fir'apon.
Certainly, they would have to do so Then what about the outstandings of the banks similarly P
A gold backing to them; quite so. And j suppose once you begin to give 2s. for the
Mexican dollar, the Morious Government would be prepared to buy silver, and exin more dullors P-That is if silver was low.
Lall in exchange is as very good for a silver country a further fall ought to be still batter and kill further tatil you got to nothingThat
is reducing it to an absurdity,
But where is the limit; where does the fall cesse to be advantageous-1 can speak very
In actual circulation I moss ?-No, just ta give it to people who wanted it there. Cor- fainly the gold-sheps would get the notes and go to Treasarg, day by day, to get them changed.
Chairman) When they wanted gold When they wanted gold, day by day.
(Mr. Johnson) Butwhat I wanted to knows would it be necessary to make gold legal tender, because for a time in India, I think I am right, Sir David, after the rupee had been put pend tically on a gold standaard Is. 4d, the gold was not at first made legal tandar?-Currency notes wore.
JEWELLER,
has REMOVED to No. 10. QUEEN'S ROAD CENTRAL (opposite Messrs. KELLY AND WALA) and has alan, kept his old Shop as a Branch Establishment, named WANG HING & CO..
[472
Hongkong, 23rd March, 1908. TUINART PERE & FILS, REIMS
Established 1719, CHAMPAGNE GROWERS AND SHIPPERS.
Ship only the Finest Quality Extra Dry (Green Seal)
LAUTS, WEGENER & CO.,
Sole Agents.
(1054 Hongkong, 18th May, 1903
VIEWS OF HONGKONG ON
ILLUSTRATED POST CARDS Coloured, Write-Awar Cards, K., For Sale at GRACA & Co.'s Stall at
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Used and Unused Foreign and Colouin}
POSTAGE STAMPS
iu Sets, Packets or Single. King Edward VII Albans, Catalognes. Hinge, &c. &c. &c.
Inspection invited. Hongkong, 12th June, 1903.
[1113
NOW ON SALE-
DIRECTORY OF PROTESTANT MISSIONARIES |CHINA, JAPAN AND COREA COREA FOR 1903.
WITH ALPHABETICAL LIST. 88 PAGES. BOUND IN CLOTH AND LETTERED, $1 PAPER COVER, 60 Cents, On Sale at AMERICAN PRESBYTERIAN MISSION PRESS,
Shanghai
Currency notes and rupees. The scarcity of If silver wa cheny. Would it be possible to \ feelingly on the silver question, perhaps mors rupees brought their valus up to la. 4-Yes,
Shangbai; We do not want any scarcity of money in het What do you include in the outstandings; | substitute in the Straits Settlements a special so than any person sitting at this table, but at that certainly would not apply to the Straits. Mr. Enwarp EVANS, Missionary Home,
Straits; we want en abundance of it.
Messrs. KELLY & WALSH, LB, Hongkong.
Shanghai and Yokohams;
Messrs. W. Barwan & Co, Hongkong and
Shanghai; YUEN CHONG BOOK STORE, Swatow;
dobte due to the banks ---We hare very few dollar for the Mexican dollar, of the same weight the same time I think if the fall in silver goes notes in circolation, but the Chartered Bank and finems, gradually substituting it for the
on the tendency would be for such a demand
But what I meant was, you also said that if has more, because we have been calling in car Mexican dollar, and then my you wṛuld give for it from the East-from the silver-using
you had a gold standard it would be necessary gold in exchange for that special dollar--Yes, countries--as would right the question itself, but that would be a very slow process.
A would raise the price of silver ?-As would for people to understand that at ang moment Messrs. A. §. WATSOy & Co., Amoy;
they could go to the Government and get gold Hesm. A. B. WATSON & Co., Foodbow; in archange for the token coin, or in archange Messrs. H. Brow & Co, Tientsin;
That would be a slow proce?-And then
sto circulation in the Straits for some years, and all our moter as they came in are cancelled. When the Straits started their isɛne we agreed that we would not issue further in Singapore there is another thing; it is a very bad time to me the price, and that to my mind is the only
solution that is ahead of silver. Throughly reliable preservative for Wood and we would coase our issue in Fenang as soon switch on a new currency when the old one is
Have you anything else you would wish to and Stone against White Aute; Decay, Fungos as the Government had their Treasury sad at ite lowest ebb, as you may may. Ret, and Dainpiness.
machinery in order for going on with their issue, But if you wait it may go lower still! On say?--I think it would be a very dificult thing LUTGENS, EINSTMANN & CO.
Well, that could be got over by the Govern- the other hand, it is a long lane that has be for the Straits to maintain a gold currency by Sole Agents for China.
ment providing the banks with the new coins, turning, Hongkong, Int July, 1902
themselves:
Messes Honer & Co. "Seoul Press," Seoul; for Government notes ? Yes.
"KAGASAKI PRESS" OFFICs, Nagas ki; But as far se 1. understand they cannot do it « KOB CHRONICLE" OFFICE, Kobe;
in India; the Currency Commissioners in India The " DAILY PEESS" Orvice, Hongkong; and
Hongkong, let. January, 1903. have the option to give either gold or silver at the London Office: 131, Fleet Street. whatever they think beat