Date.
1911
borf
HONG KONG
17190
Rehabilitation of
C O
17190
ALLE DE MAY 11
subsidiary Currency
412
previous Paper.
Bends obsins.
ނގ
enclosures in Co. despruch rejecting his proposals for. Asks archording to publish to despatch.
Mr. Fiddes
I may be wrong, but cannot feel confident
of Sir P.Lugard's competence to deal with a delicate
currency question.
Par. 2 I do not believe in a natural process of
reducing Chinese coins to a discount having the effect
of automatically operating to excluded them.
Par. 3. 1 bellave that at present the discount
Chinese subsidiary coin is greater than that on H.K. do.
The large firms can refuse Chinese subsidiary coins
on
15. W1.28,032---50. 907 11,10, á.¿E.W.
absequent Paper
3582
at present, if they wish the coins not being legal
tender in H.A.
4. I have never seen it questioned before that there
is an
onormous mass of H.. subsidiary coin in China -