133
-Jaloerqqa wɗ blwow antos sdi daďð yaltaqloltam wnsbiosi erit dærid
financing the operation (i,s, meeting the drafts due to the
bas
uaw shar: saw tollo edt folde no vab sdt ne tavooalb to
holders on the due date, and realising the credit from the
bullion brokers) say i per centum equals $5,000 ?. Total cost
$1,005,000 or say £87,000. A gold loan for this sum plus 1
fueretai mot gntwolls bas,bolteq sɗft to bas ed? ab¬swo? be-
VLLBJnahkanI)
Vino beretto bind emtoo me to Buizy act no
ents dolde #dcs# & wit wolla of alɗlanoq ad vidsɗorg YER Jż
-dưa to moldaïsmeroon akrit tauen od æston event of baattoritwa
-nlam od svar varit dobri sytesat and to drag se anteo visibis-
os al di dent galves (atlusy qiedt nå (sweredat gainise) mist-
(bolted and to ban sfid de oednetang Jusmrtevon zehrut berseber vef
edt sa bra,beratto troskih to star add sonsɗne blươw miɗt
bra Yostosa jalats nt no baitted eď binow Iawatbritłw to BBSDOT¶
arid adatoerqqs of betaivoimo Jasmi eď hívow sa zannam a dove ni
two niert ut altít ob of bedeutð að var ætchloff srit) antos
of ano tiet vier a et 3⁄4e to -jar a dart #mrsaeng I (deeodat
Isqkoning erit dtlw #nemannstre Birit babrianoo grivef
to exem odt tot dotdw) rum niedino a to vravileb tot stablod
‚otsh ¤latteo a no (drow 000,000,0£* ed oð maoqque sw Inemyrs
notať uxoow 6 yas) stab a no tadt strogk (word eɗid foundani I
bis,evitra lliw v?lźnamp wint (benign or dusegžda to woʻla os
.aredorɗ nożliwe "kers date $sentinos brawiot a ader of sing xarid
(sonatuant bus tihlert gnthuIoni) moltoamnant scd no amoi BẮT
.(sessio¬urg no tmroselh ***I P{41 «:.kiv) Ineritoqed zo ZOI al
101 molɛaimed adnoga ɑword ɑulq 000,000,13 emol eтotoreil I
gntonants
per centum Sinking Fund would amount to an annual charge of
£3,933 or say $45,000 per annum decreasing yearly as the Sink-
-ing Fund decreases the capital sims.
For this liability $10,000,000 worth of
Hongkong Subsidiary Coins would have been withdraw from
circulation, and since half the capital sum of $1,005,000
might very legitimately be met from the Colonial Reserves (which
at the end of the present year will approximate to $2,000,000)
- say $23,000. The minimum loss
the annual payment may be halved
which is annually incurred by the local Treasury on Subsidiary
Coin received as legal tender if the discount is paid and the
coin is not demonetized is $26,777. But if the result of the
operation were to rehabilitate the coinage this loss would be
eliminated, and therefore there would be an actual saving to
Revenue of $3,777 the annual liability being only $23,000 and
the capital cost $502,500, chargeable to Reserves.
The sudden withdrawal of all the Subsidiary
Coin (be it $10,000,000 or less) which the holders could
guarentee to collect in six months would no doubt cause the
coins