the
Effect of disturbing arrangements for paying
the Troops at a time when, from their movement
in a country, principles of uncertain new complications
to the monetary system may arise, which might
be difficult to adjust if the Colonial basis of
Government Accounts were altered.
We are fully admitted the necessity however
for alteration.
It appears desirable (1) that Government
accounts should eventually be kept in dollars
& cents, and not in Sovereigns & shillings; (2) that
Silver alone, and not gold & silver concurrently,
should be the legal tender in Hongkong.
It has been proposed that the bonds of the Currency
proclamation be withdrawn and that the values of
coins shall be...