546
1.
Memorandum relating to resolution passed by a
majority of the members of the Hongkong Chamber
of Commerce at a special meeting held on the
18th February 1903.
The resolution read as followE!-
"That in the opinion of this meeting it is
"desirable the Straits Currency Commissi on should
"extend its enquiries to Hongkong with a view to
"ascertaining whether reform of the Colony'
currency arrangements is advisable."
With regard to the wording of the resolu-
-tion, at the time of the meeting, the names of
some of those who served on the Straits Commis-
sion not being know in Hongkong, it was imposs-
-ible to say whether these gentleman were suf-
-ficiently acquainted with the details of the
trade of Hongkong and the needs of the Colony to
express an opinion as to the local currency
question, which would carry conviction with it.
It was further possible that a Commissi on might
be appointed by the Home Government consisting
of financial and business experts who might give.
a decision which, while academically correct
might still, if carried out, seriously affect
the prosperity of the Colony for the time being.
Thus, while it is generally admitted, probably,
that a gold standard should be adopted throughout
the world as a ta sis of trade, the time has not
yet arrived when such a change is possiblO.
In