In the reply to this Letter the following Number should be quoted.
10227123
Rraf 29 MAR 11
TREASURY CHAMBERS,
910
11
Ju March 1911.
Sir,
The Lords Commissioners of His Majesty's Treasury have had before Them Mr. Fiddes' letter of the 14th January last (39040/1910) relative to the acceptance by the Hong Kong Government of subsidiary silver coins, tendered to the Colonial Treasury, which have been reduced by wear below the least current weight prescribed by the Hong Kong Coinage Order 1895 (Clause 4 (1) Third Schedule) and which in consequence have ceased to be legal tender.
In reply My Lords direct me to state, for the information of Mr. Secretary Harcourt, that in the present circumstances of the Hong Kong subsidiary coinage any extensive withdrawal of subsidiary coins, either worn or unworn, at prices above their bullion value is in Their Lordships' opinion to be deprecated as unlikely to produce any advantage at all commensurate with the expense involved.
It is, however, clearly impossible for the
Colonial Government to reissue coin worn below the least current weight which may be received by them in ordinary
course.
The alternative coursestherefore are to decline
to accept such coin or to dispose of it as bullion and My Lords recognize that the former is a very undesirable one
he Under Secretary of State,
Colonial Office.
and