Letters Closure 2
569
10 cent pieces
$100,000
5
#
167,102
Copper cents
76,920
$344,022
4.
In the meantime the fall in the dollar value
of British subsidiary coin following that of the Chinese
coins was creating some dissatisfaction in the Colony, and
various wild suggestions for its rehabilitation were put
forward. I enclose a copy of correspondence between Mr.
E. Osborne, M.L.C., Secretary to the Star Ferry Company,
Limited, and Mr. E. A. Hewett, H.L.C., Chairman of the
Committee of the Hongkong Chamber of Commerce, in which the
Chamber dealt discreetly with the suggestions that they
should move the Goverment to legislate in the matter, and
that British coins should be rehabilitated and protected by
making them legal tender up to any amount, to the exclusion
of all other coins, and by Government pledging itself to
redeem all its coins at par.
5.
I also annex a copy of a question on the
subject put by Mr. Osborne to the Government at the Meeting
for and reply.
Loure 3
made, I had consulted the Managers of the Hongkong and
Shanghai Banking Corporation, the Chartered Bank of India,
Australia
the Treasurer's reply. Before causing this reply to be
of the Legislative Council held on the 7th. June and of