f
538 580-
whether a Gold Standard should or should not be adopted for
Hongkong, but advised that in the event of His Majesty's
Government deciding to appoint a Commission, the Hongkong
Chamber of Commerce should be invited to nominate two gentle-
men for appointment as Members, one to represent that section
of the Chamber which is in favour of the status quo and the
other to represent the section which is in favour of adopting
a Gold Standard.
3.
I enclose also for your information copies
of the proceedings of the Chamber of Commerce at a Meeting of
the Committee held on the 23rd. December, 1902, and of a
General Meeting of the Chamber held on the 18th. February, 1903,
at which the Resolution now forwarded was adopted by a majority
of 40 to 25.
loure 2.
one
losure 3.
4.
As it appeared to me that the papers read
on that occasion by the gentlemen who proposed the Resolution
in opposition to the conclusion formed by the Committee of the
Chamber at the Meeting of 23rd. December had been carefully
prepared, while the time occupied in the discussion was pal-
pably not sufficient to admit of well considered reply, I
communicated with a number of the most important Merchants,
Managers of Shipping Companies, and Bankers in the Colony
requesting their views on the subject. I attach their answers
which will show that among the Mercantile men who have the
largest stake in the Colony including British, German and
Chinese, there is an almost unanimous feeling against any
interference with the present Currency so long as the Chinese
Currency remains what it is.
5.
The argument put forward in these various
losure 4
closed in
cover)