connected with the possible success of The Mint, if that establishment could be permanently maintained. It must obviously be often useful and profitable to the Bank's interests at least, but the propriety of keeping it open for a long time, at the cost of the Colony is a totally different matter. Even on that point, however, there is apparently not much doubt owing to the great commercial depression which has existed in China for the last three years and the general shock to credit in the East, which has resulted in part—but in part only—from that suffered in Europe at an earlier period, and which has left but five out of eleven Banks remaining at Hongkong, whilst many firms, some of them of the very highest standing, have fallen.
The question, which has occupied the attention of Her Majesty's Government since last February, has yet to be decided. I am not aware that any decision has been arrived at. It would be very difficult to decide what effect, if any, and if so of what nature, has been produced on the success of The Mint.
62. These events have been very painful to witness, though ultimately they may evolve good from evil if hereafter they tend to reduce speculation within more reasonable limits, and