12
RECEIVED
20JUN 1930
COL. OFFICE
子
TELEGRAM from the Governor of Hong Kong to the Secretary
of State for the Colonies.
Dated 20th June.
(Received, Colonial Office, 5.45 a.m., 20th June, 1930).
22
38
No.54. Referring to my despatch of 28th March 1930 Confidential Currency Committee has at my request issued interim report pending completion of final report. It sketches committee's views
which are on the following lines:
1. The time is inopportune for stabilisation to which in any
event it is opposed until China adopts gold basis.
2. Extended use of silver bullion is recommended while the
methods of note issue prevalent in present currency system are
considered open to critici sm.
favoured.
Government note issue is not
3. Consideration andpreparation by experts of all detail
necessary for immediate establishment of a gold currency should
is
China adopt gold basis as recommended. I propose to await
full report before expressing considered view. Copy of
interim report follows by mail.