Enclosure 1.
211
SUBSIDIARY
COINS.
Memo by T. Jackson.
5/26
I.
II.
RECP
REC 14 MAR 98
Indents are made to meet the necessities, and legitimate require- ments of the, Golony.*
The demand for subsidiary coins is increasing year by year, and we may reasonably look forward to a continuance of same.
III. If the Hongkong Government fails to keep a supply always on hand, -the void would be filled by am inoressed issue of Chinese sub- sidiany soins of inferior touch to the great profit of the Canton Mint.
IV.
There is not the slightest probability of the Hongkong Government ever being called ́apon 'to redeem any of the coins issued.
They
find their way to the mainland of Ohina where they are much appre- oisted,and from whence they never seturn to Hongkong.
The profit on the issue of subsidiary coins is an important and legitimate one, and if a bold policy is pursued will add materially
to the Revenue of the Colony.
Hongkong 14th January 1898.