supply of subsidiary
coins to the extent
of $ 10,000, and to ship
No
portion until
all was ready, Their Lordships cannot
believe that there can
be
any scarcity of small coins in the Colony.
If this be so, the premium upon them
must arise from
some defect in the
arrangements taken for their distribution,
for
which the Colonial Government is
responsible and which it is bound
immediately to remedy.
My Lords fully
concur in the terms
of the Secretary of State's despatch of the
28th October, to the Governor, and trust
that it will lead to
speedy
removal of the inconvenience complained of by the
Sir,
Treasury Chief Officer some din dervaal,
Your obedient
Servant
Willing Lane
Copy
AG40/5.
Seri
1522/1
145
Admiralty. EN.
26. October, 1886.
1. In reply to Mr. Law's letter of
the 18th Inst. I am commanded by the Lords Commrs of the Admiralty to acquaint you for the information of the Lords of the Treasury, that small quantities of Subsidiary coin have been from time to time obtained at Hong Kong Yard under the sanction of the
Commodore in Charge of that establishment; until the 31st Decr - 1874.
The purchases were made in the open Market through the Yard Compradore at 1,140 & 3/4 per Cent
these rates being "testified as a fair charge for 'change for new coinage' by the Manager of The Chartered Mercantile Bank of India, London".
2.
3. The Naval Storekeeper states that these small
coins
were not supplied by the Control Dept : & that they were required for payment of Yard wages
The Secretary
of the Treasury