the circulation of the yen (SE8650/80)
(1) because there was doubt as to its being maintained at its proper weight (which has been richly discussed) & fitness. See also Private Letter from The Manager, Hongkong & Shanghai Bank.
The Eastern Telegraph Company, Limited.
(2) because it circulates in areas near to Hongkong. See attached 10493/81.
Tip Monkey Klin sized Station wk's Name. Station Time t Ülerk's Sigualars.
LONDON BRANCH STATIONS: 8, LEADENHALL STREET, E.C. 3, GREAT TOWER STREET, E.C. 41 & 42, PARLIAMENT ST., S.W., and 37, HOLBORN VIADUCT, E.C.
79 No.
NARKS The following TELEGRAM Received at LIMITED
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1891 t 77 11882 2 REC Rec 14. via "Eastern," LTime
the parts of China
As to (1), later reports of the action of the Japanese Mint authorities are more favorable (see 14199/87).
(2) remained as an objection in 1887 in the opinion of the Hongkong Chamber of Commerce and the Hongkong & Shanghai Bank (see second Enclosure in 15011/87).
I do not know whether since 1887 there has been a spread into Southern China - (according to 14199/87 it was formerly not accepted in China except at Amoy & Foochow). But especially at Amoy they are now in favor of the Currency Reform.
Anyhow the first step to take would seem to be to ask Governor to report fully by despatch on what grounds the Chamber of Commerce and the Bank were opposed to this policy.
Question the two Bank managers next Wednesday/1887.
Sug. 15 July 1887
Don't keep in the Committee. If they are in favor.
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