see
par.ffor
of Commit-
supply of Hong Kong
tee's Report. See also last par. but one of our
letter to 1.0. on 16723.
As to the rate of Commission, 2 per cent is
reasonable, and we have already acquiesced in
it. It is true that by special representations
we have outained a rate of 1 per cent for
our initial supply of Straits dollars, but
that was partly because the British dollar
will still be coined at 1 per cent pending the
expiration of the six months' notice required
to terminate the existing agreement. It is
probable that we shall have to pay 2 per cent in
future for the Straits dollar, though that
point is not yet definitely sottled.
We cannot think of a int at Hong dogs for
coining British dolars
taan 2 per cent If
1 would cost far more
For the reasons given in 14840/91 and minutes
thereon we ought not to consider the question
of re-establisning a Mint at Hong Kong, unless
we find by experience that the Indian Mints
cannot turn out a sufficient supply of British
dollars.
? send copy of desp. witu dupl. encil. es
to 1.0. and ask them obtain from India a re-
port on the probable capacity of the Bombay Mint
to cope with demands for Britisa dollars in the
future, having regard to the rupee requirements.
and the requirements for the Straits ( as to
which the Govt. of India have already aa esti-
mates).
Su 21039
And inform Gov. of H.K. accordingly, saying
that we do not anticipate any difficulties in suḥ -
plying Britisn dollars,
I submit draft for comin ARC
25/5 C.P.L. 27.
atonce
67