**
dg slow to locand se dede, arta) Po
106
Revenue amounting to some $360,000 worth per annum have been
withdrawn from circulation and retained in the Treasury. The
sale of these coins as bullion will it is estimated involve a
loss to the Revenue of about $40,000 per annum. It is clear
therefore that this Government has already taken steps for none
time past similar to those which I now ask Your Bxcellency to
urge the Chinese Government to take, in order to rehaḥilitate
its own currency which circulates in the Two Kwang Provinces,
and is at a similar discount there. I therefore only ask for
reciprocity, and I should not be unwilling (with the sanction
of the Secretary of State) to enter into an agreement with the
Viceroy of the Two Kwangs by which both Governments would pledge
themselves not to issue any more subsidiary coinage until their
respective currencies had reached par, and then limit the issue
to what would appear to be necessary for currency purposes. When
any renewed issue in these circumstances took place either
Government would inform the other of the amount it proposed to
issue.
With this object in view, I have addressed
a letter, copy of which is enclosed, to Hia Britannic Majesty's
Consul-General at Canton, and I have now to ask that Your
Excellency will move the Chinese Government to issue instruct-
-ions to the Viceroy to rive the undertaking desired by this
Government