LAD
41473
159
Enclosures
Rece Race 24 DEC (9)
Bryce asked the Under Secretary for the Colonies whether the bsidiary coinage current in Hongkong was partly British and partly hinese; whether the Chinese coin was only accepted by money-changers ta considerable discount; whether, in sympathy, the British coin as also deprecated to an almost similar extent, to the loss both f Government and of Traders; whether he was aware that the Hongkong overnment appointed a Committee to suggest remedies, and that the Ajority Report of the Committee recommended that the circulation of Chinese coin should be prohibited; whether, though 18 months had lapsad, no action had yet been taken by Government; and whether the Secretary of State would instruct the Hongkong Government to prohibit the circulation of Chinese coin with a view to enabling British coin to realize its face value in a British Colony.
Colonel Seely. The answer to the first four clauses of my hon. friend's
In the Minority Report, however, question are in the affirmative.
of the committee referred to, a strong opinion was expressed as to the difficulty and undesirability of prohibiting the import and circulation of subsidiary Chinese coins in Hongkong, and as to the adverse effect which such a measure would have on trade between Hongkong and Canton. The Governor has been endeavouring to arrange with the Viceroy of the two Kwang Provinces for the cessation of tha coinage in Canton until the coins reached par, and thereafter for a rastriation upon output in accordance with the actual needs of the community, and it appeared from the latest raport we have received on this subject, in the summer of last year, that the Viceroy was
The Secretary taking satisfactory measures to deal with the matter.
of State has recently requested the Governor of Hongkong to report on
the present position, and on receiving the report will consider what
steps should be taken.