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legalization of a British Dollar for
in
use in Hongkong
Sesslements.
and
the Straits
The Japanese openly
assert that
they hope ultimately not only to
do the whole
of
their own
trade
with Foreign Countries, but also
to supply
China with the greater
portion of what she at present
takes from Great Britain and
India.
Japan is assisted in this matter
by the unfriendly attitude of
the
Depotists:
effectually put a stop to
any
English Government towards silver; and
the Silver policy which has
recently been entered upon has
effectually
Noutants into
R1,
increase of British Trade with
the far East. Indeed a
considerable if not disastrous
diminution of that trade has already taken
place and
may
A
further heavy decrease
be anticipated So much
•
for the general question.
The special reasons however for
objecting to
the Japanese yen
being made
a
legal tender
in Hongkong may be shortly
summarized as follows:
1. The Specie Bank of Japan
supported strongly by the Japanese
Government is a
keen competitor both
of the