128
„68WDD "Biðaf sáð bodqube ovati
redemption within a specified time.
(P)*
.(a).
If the specified time is a long one,
the
to nolaidiɗony end Jadi midaɗorg el dI
bus (†10pyoð a as bebragen od bízow gnozyno♬ al entoð seenind
.dżoɔyof viotalister a of bæel blow
blow mol#ididong sowa jarið eldadorq al 31
.(5)
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ririw sonetto nompo YTSY # #daero hirow #I
.(b)
.noitoirt ħna moldedbuni malviovni,anot÷rossorg Isitmeupsaros
707 #Biols edt of diamo】 a ħħa blow #T
(*)*
biwow bris,2%ɑnit20 @virusvert d ebaz ed of awl dorsom dobriw
„¿40% ada to robaert sɗi fazetoad Isridtt auris
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.(t)
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erit an Ilev na
,nożna? hmm $709 ridd meeted abiswmot bra @btar-
symb bra atlanta ant mort adnatgime qnimuuten to nedown OyTAI
of venon, as (Iew sa erest tenom eaentri” nisido ot enlopen oftw
bra næsten ‚aseqotuk oris et steɗT .8eaariotug Lasof exam
-Tettib edit word ton ob odw berobbenon ed of atal¬wet ditaĚNA
馨
besimiðalv vilaunkánon se blươw bng,antoo ent neewied eout=
to rebred gaibhidrot wel erit dsend yi¬nli÷two h[wow bre
liability deceased by the Colony would be too large to risk in
the present state of the Finances. It would approximate to
unlimited redemption which by common consent is impossible,
since it is stated that $40,000,000 worth of coins have been
issued. Nor in these circumstances do I see the necessity of a
new coinage since the existing coins would be at par value.
(b). If the specified time were so short that
stocks from Canton would not be unloaded on the Colony, the
result would differ little from repudiation pure and simple,
which would be an immoral act.
(c).
It would severely shake the confidence of
the Chinese in the integrity of the Hongkong Government, and
in the stability of any new currency.
(a).
It is very doubtful whether it would oust
Chinese coins, and so drastic a measure could only be contemplat
-ed if it were a complete and permanent remedy.
(a).
In practice its inauguration would be
attended by many serious difficulties as regards existing
QUȚUSBE COFUR*
“atbuyer dɔlv,sganion wen a to sumai ert
.II
bezebnes asu es done
* BAH BA HONB jusnze onanios gaiteixe wo to mois- noldgrebet
holders.
III.
Redemption by Loan,
(a).
The Colony is not in a financial position
to