101
No. 1.
No. 8.
No. 16.
No. 14.
16 -
His Excellency the Governor of Hongkong now writes to inform him that during the three years 1906-1908 the Colony has incurred an average annual loss of $184,204 in the demonetization of Hongkong small coins as a result of the depreciated Chinese currency, which, though not legal tender, circulates in Hongkong; and that the depreciation of the subsidiary coinage has seriously affected the business of nearly all the mercantile firms in the Colony. His Excellency suggests, as the most effective means under existing circum- stances for controlling the output of the Chinese Mints, the prohibition of the coinage of any coins in a province where such coins are circulating at a discount, leaving the proviu- cial mints free to issue new currency whenever any particular coin reaches par value. For
purpose all subsidiary coinage should be grouped as one currency.
this
Sir John Jordan is convinced that the Chinese Government are desirous of remedy- ing the evils of the existing depreciation of silver coins in many parts of China, and he has the honour to request that the suggestion of the Governor of Hongkong may be taken into favourable consideration.
No. 17.
Copy of despatch from H.M. Minister, Peking, to Secretary of Stite for Foreign Affairs.
No. 425.
PEKING, 17th November, 1909.
Sm,-You will have observed from the Waiwupa's Memorandum of February 23, enclosed in my despatch No. 142* of April 1 last, that I had approached the Chinese Govern- ment at the request of the Governor of Hongkong who was anxious to learn whether any steps were being taken to restrict the output of subsidiary coinage by the provincial mint at Canton.
I now have the honour to transmit to you herewith copy of a memorandum which I have addressed to the Waiwupu on the same subject, ou receipt of a despatch from Sir Frederick Lugard in which, after pointing out the harm caused to commercial interests in the Colony by the depreciation of the Chinese subsidiary coinage, he suggests as a means for controlling the output of the provincial mints, the prohibition of the issue, of coins now circulating at a discount, the mints to be only permitted to issue new currency whenever any particular coin shall have reached value.
par
This suggestion seems to me of some value, and I have therefore recommended it to the Chinese Government for their favourable consideration.
I have, &c.,
The Right Honourable
Sir EDWARD GREY, Bart, M.V«y
Sc.,
dc.,
e.
J. N. JORDAN,
www.com
17
No. 19.
Copy of memorandum from the Waiwupu to H.M. Minister, Peking.
29th November, 1909.
The Board has the honour to acknowledge the receipt of Sir J. Jordan's memor- No. 16. andum of the 10th instant on the subject of the issue of subsidiary silver coinage by the Chinese Mints etc., etc. (quotes memo of 10th instant).
The Board has been in communication with the Board of Finance on the question and have now received the following reply -
"Our Board has already instituted a department for the investigation of the coinage question and at the present moment a most thorough examination is taking place as to the currency circulating in the various provinces. But the question is a most complicated one and it will take some time yet to thoroughly consider it from all points of view.
As regards the issue of subsidiary silver coinage in Kwangtung as mentioned by the British Minister, Our Board will again advise the Canton Viceroy to consider the matter and find a satisfac. tory solution."
The Board has the honour therefore to communicate the above to His Majesty's Minister.
No. 20.
Copy of despatch from H.M. Minister, Peking, to Secretary of State for Foreign Affairs.
PEKING, 2nd December, 1909.
No. 445.
SIR, -With reference to my despatch No. 425 of the 17th ultimo, I have the honour to No. 17. transmit to you herewith copy of a memorandum which I bave received from the Waiwupu No. 19. in reply to my memorandum of the 10th ultimo commending to the favourable consideration No. 16. of the Chinese Government the suggestion made by the Governor of Hongkong that the Provincial Mint at Canton should be prohibited from issuing the subsidiary coinage now
value. par circulating at a discount until such coinage sball have reached
The Waiwupu have referred this suggestion to the Viceroy at Canton for his consideration. They add that a thorough examination is now being made of the currency circulating in the various provinces.
I have, &c.,
The Right Honourable
Sir EDWARD GREY, Bart., M.P.,
&C..
$2.,
&c.
J. N. JORDAN.
No. 14.
No. 17.
No. 18.
Copy of despatch from H.M. Minister, Peking, to Governor of Dongkong,
BRITISH LEGATION, PERING, 19th November, 1909.
SIR,-With reference to your despatch of October 19th last, I have the honour to trans- mit herewith copy of a despatch which I have addressed to His Majesty's Secretary of State for Foreign Affairs on the subject of the issue of subsidiary coinage by the Chinese mints.
His Excellency
I have, &c.,
J. N. JORDAN.
No. 21.
Copy of Despatch from II.M. Minister, Peking, to Governor of Hongkong,
BRITISH LEGATION, PEKING, 2nd December, 1909.
SIR,---With reference to my despatch of November 19, I have the honour to transmit No. 18. herewith copy of a despatch which I have addressed to His Majesty's Secretary of State No.20. for Foreign Affairs on the subject of the issue of subsidiary silver coinage at the Chinese mints.
I have, &c.,
J. N. JORDAN,
Sir FREDERICK LUGARD, K.C.M.G., C.B., D.S.O.,
Fo..
&c.,
*Not printed.
His Excellency
Sir FREDERICK LUGARD, K.C.M.G., C.B., D.S.O.,
&c.,
&c.,
dc.