Despatch to your Lordship from myself of the 21st of May last.
I have received your Lordship's despatch in reply, and entertain the hope that the measures of currency reform which are now contemplated may eventually bring about a more satisfactory state of affairs.
The larger and more important question of providing a constant supply of one uniform and undefaced dollar, which shall be established as the standard of value in this place, and serve to supersede the present system of payments by ingots in silver, will continue to receive the attention of the Chamber.
At some future period, they may solicit your Lordship's co-operation in devising practical measures to supply this great desideratum.
See page 19 of Printed "Correspondence on Currency of Hongkong".
If Your Lordship should approve of the present proposal for the establishment of a Mint at Hongkong for the coinage of British dollars, many questions of detail will then be determined which, however, I need not discuss in this despatch, such as the weight and purity of the new dollar, and the regulations under which the Mint should be established.
I have the honor to be, My Lord Duke,
Your Lordship's obedient servant,
J. W. Cowell
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