41
the value of long Kong and of Chinese
subsidiary coins o difference which
the Chinese are quick to notice. There
will probably be no need to prohibit
the importation or circulation of Chinese
oping.
16.
Government
no Dunst,
notes issued under this scheme will, go in-
A
to China and it is possille that he notes
may at some future date be excluded but
K Jangur there seems little be that, when that
not
day comes, the notes will be sufficiently
this
The
matter.
futurs
M
A
exprima
the
light" of the working of
scheme.
The Gout or driven out new caditims
1
deccable therefors before introducing the legitation
any case the operation of redeeming
to come to an arrangeinkel in with the banks as to the
the large mass of subsidiary coins in
raft of which they will circulation can be spread over as long
be prepared to sill to the
Goot a substantial amount
of subsidiary comage.
e period as may be thought necessary.
10.
Mr.Harcourt will be glad to
be favoured with Their Lordships vies
on the above proposals as soon as
possible.
I am,
Atc.,
covered to make their encashment in
standard dollars a matter of no difficulty.
There seems no reason whi
scheme should not be publicly announced
from the start ap why the Government should
not wor
cooperation, with the
"When the legislation hers bere fassed.
Inotlar câténtage je ten, as the
issue of notes will be entirely at the
option of the Government the issue can
}
be stopped at any time if tere is a
lack of confidence in the notes, and in
any
17. Legislation in the
Colony will of course
be necessary to stan Buthorize the issue noter, and the
proposals of the Good will thar fort have to be made public. This announcement will proteable at once raise the value of the H. K. subsidiary come, and reduce to à corrofone ding extent the amount of the fine for meat.
ment. If many
be