having been the practice
to place the semi-annual tender, after supplying the wants of the
Control Department, with the
Bank "at exchange of the Day" and of the advisability of postponing the circulation
for a few months until exchange
Should rise" and in the third
he states that "
Mer
MINUTE.
Mr. Bramston.
Mr. Malcolm.
Mr. Meade.
Mr. Herbert.
Mr. Lowther.
Lord Carnarvon.
ひ
werg
part of the world the rate
at Hongkong of Bullion
Chop Dollars, clean Dollars
and subsidiary Coins rise and fall according to the
demand in China generally
of all or such
of or such thereof
"
I gather from these remarks
that the custom has been
whenever you had subsidiary
coinage to dispose of, to sell them
106
in exchange for a Bill on England; and it is obvious that in this procedure two distinct transactions are
(1) the issue of token coins
in exchange for the standard money of the Colony (2) the
remittance of such
perchan money to this country - have
been combined in one
are
5. Your predecessor does appear to have apprehended that the point as to which I asked for information
Concerned the relative rate of these token coins to the standard money of the
Colony
and did not in
conclusion
any way necessarily the rate of Exchange with England
6. It is undoubtedly both...