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coin in sufficient quantity and to restrain the issue of
subsidiary coin within the limits of business necessity;
such subsidiary coin being legal tender to a certain
amount as is the case in all civilised countries.
77.
I have therefore the honour to
suggest to Your Lordship the desirability of taking steps
to urge upon the Chinese Government its liability in
regard to the fulfilment of that condition of the Mackay
Treaty which refers to the establishment of a proper
currency.
8.
In the meantime this Government
with Your Lordship's approval will take steps by the
gradual withdrawal of its own subsidiary caénage to
ameliorate a situation which has become acute and demands
immediate relief.
&
I have the honour to be,
My Lord,
Your Lordship's most obedient,
humble servant,
-:༧་
Officer Administering the Govern -
-ment.