g
*༤, ༨.1..
1
M
closure 1.
568
suffered, and Chinese bankers considered that in view of the
manner in which dollars had been replaced by Chinese subsi-
diary coins in the Kwang Provinces there would be no chance
of Hongkong subsidiary coins being required in those pro-
vinces in the near future. The Treasurer recommended that
the bulk of this coin should be reshipped home for sale as
bullion.
3.
Before acting on this recommendation I dis-
cussed the matter with Mr. J. R. M. Smith who thought that
it might be possible te dispose of the coin more advanta-
geously by sale to the Indian mints then buying silver, and
who at my request telegraphed to ascertain if these mints
would buy. On the 28th. May he advised me that the Indian
Government had wired from Simla that they were not prepared
to do this. The telegraphic correspondence with Your Lord-
ship and the Crown Agents, of which enclair versions and
paraphrases are enclosed then took place with the result
that the following subsidiary coins were shipped to London
per S.S. "Preussen" on the 21st. June:-
20 cent pieces
10
*
W
148,000
3,250,000
$3,398,000
leaving in the hands of the Colonial Government
10