280
DESPATCH.
Governor. No.
Idanson Conf.
Date.
1894
1 Feb.
Last previous Paper.
Gor HongKong No. 3999
Currency Reports
(Subject.)
HALONs
C. O.
3999 RECE Dent 6 MAR 34.
in favour of comager legalization of a B. dollar, and against the legalization of the Japanese Yen.
3995
Put by
(BRT(1292) — 2009-03-02
Next subsequent Paper.
0.
(Minutes.)
M. Farfield
See also 3995
(3175 is still in circulation, with Draft to 5.0.).
This shows, as we expected, that the objection to the Yen is simply the Bankers' fear of the competition, a rival Japanese Bank.
As regards Japan ousting Great Britain in India from the Chinese trade, I fail to see that legalizing the Yen will materially affect it.
The Governor in this despatch rashly prophesies as to the effect of India's silver policy on Trade with the East, and had better refrain from competing.
4805