Exists as to the amount of the supply of the Japanese Silver-Yen and the great depreciation of the paper Currency of Japan, I am of opinion that it will be premature for H.M. Govt to make that Coin a legal tender at Hongkong until they are in a better position to judge of the degree of reliance to be placed on the measures of the Japanese Govt. in regard to Currency & finance. I have, etc
Signed) Harry S. Parkes.
Copy.
"Sir,
F. 7. 1149 119 7.0. Jan. 19th.1880.
With ref: to Sir H. Parkes' letter of Feb. 18/70 as to prev. corresp. rel: to the Japanese Trade Dollar, upon which subject I have been in Communication with H.M. Secretary of State for the Colonies, I have to instruct you to state to the Japanese Govt that, after careful Consideration of the matter, H.M. Govt are unable for the present to comply with their request that the Jap. Trade Dollar should be made legal tender in the Colony of Hongkong.
G. Kennedy Esq.
Yedo.