CONFIDENTIAL.
nclosure!
Sir,
4 400
GOVERNMENT HOUSE,
HONGKONG, 26th. June, 1911.
172
The Local Auditor has addressed a letter,
of which I attach a copy, to the Colonial Secretary stating that
in his opinion the directions which I have given to the Treasurer
to dispose of the Silver Subsidiary Coins belonging to Govern-
-ment involving a loss to Revenue in consequence of the dis-
-count at which these coins stand in the market, is contrary to
Colonial Regulation 311 and would appear to be contrary to the
policy sanctioned by the Secretary of State. He requests that
your sanction should be obtained.
2.
I will recall briefly to your recollection
the circumstances of this matter. There accrues to the Govern-
-ment in the collection of taxes, sale of stamps &c., annually
a quantity of Subsidiary Silver Coin of the face value of about
eight lakhs, which will probably be increased by the takings
on
THE RIGHT HONOURABLE
LEWIS HARCOURT, M.P..
&C..
&C.,
&C...