(Q3)
LAW AFFECTING CURRENCY.
1. Order in Council of 9th January, 1863, published in Government Gazette of 2nd May, 1863, declares that Mexican Dollars or other Silver Dollars of equivalent valuo duly authorized by the Governor of Hongkong shall be the only legal tender, and provides that Silver Coins represonting some multiple of the cent or one- hundredth part of the said Dollar shall be a legal tender for any sum not exceeding Two Dollars, and that Copper or Bronze Coins representing the cont or one-hundredth part or the mil or cash representing one-thousandth part of the Dollar shall be a legal tender for any sum not exceeding One Dollar. Provides also as to the preparation and devices of such Coins to be issued from the mint. See preamble to Local Ordinance 1 of 1864.
2. Ordinance No. 1 of 1864 recites the above Order in Council, and provides that British Sterling is to be converted into Dollars at 4s. 2d. per Dollar, when the Governor proclaims it.
3. Proclamation under Ordinance 1 of 1864. See Gazotto, 23rd January, 1864. By this Proclamation Ordinance 1 of 1864 is to take effect from 16th February, 1864.
4. Ordinance 2 of 1864.-This Ordinance provides for the establishing of a mint in the Colony (which was established and worked, but has been removed for some years).
5. Governor's Proclamation in Gazette of 14th September. 1866.-This Proclamation recites Order in Council of 1863. and proclaims the Hongkong Dollar and Half-Dollar legal tender.
6. Treasury Regulations of 20th October, 1866, published in Gazette, 12th January, 1867.-These regula- tions for Dollar, Half-Dollar, and Subsidiary Coinage made in pursuance of Ordinance 2 of 1864.-The Hongkong Mint Ordinance, sec. 2 of which empowers the Covernor to frame regulations under which the mint shall receive Silver Bullion and Coin the same.
7. Ordinance 6 of 1865, sections 13, 20.-This Ordinance relates to the offences of forging Bank Notes, 8. Ordinance 10 of 1865.-Offences against Coinage, but sections 4, 5, 16, 17, 26, 27 not in force by Pro- clamation in Gazette of 21st October, 1865, under the Ordinance.
9. Proclamation under Ordinance 10 of 1865. See Gazette 21st October.-N.B.-This is important, as it permits the Chinese Custom in South China of clapping Dollars.
Order in Council, 27th November, 1875.—Rate for issue of Silver Dollar to Her Majesty's troops reduced from 4s. 3d. to 4s. 1d.
The above Currency consists of the following Coins, viz.:—
1. The silver Dollar of Mexico.
2. The Hongkong Dollar and Half-Dollar issued from Her Majesty's Mint,
3. Silver Coins issued from Her Majesty's Mint, representing:-
(1.) One-fifth part of the said Dollar, and commonly called Twenty Cent Piece; (2.) One-tenth part of the said Dollar, and commonly called Ten Cent Piece; and (3.) One-twentieth part of the said Dollar, and commonly called Five Cont Picce. 4. Copper or Bronze Coins, also issued from Her Majesty's Mint, representing:-
(1.) One-hundreth part of the said Dollar, and cominouly called One Cent; and (2.) One-Thousandth part of the said Dollar, aud commonly called Mil or Cash.
AMOUNT OF COIN IN CIRCULATION.
Approximate amount of Hongkong Dollars and Half-Dollars struck at the Hongkong Mint, ...$1,421,487.00
pieces; and 1 Cent and Mil pieces) put into circulation up to 31st December, 1873,
Approximate amount of Hongkong Silver and Copper Subsidy Coins (20, 10 and 5 Cent 355,981.00
-------
Hongkong Silver Subsidiary Coins obtained from England in the year 1874, and subse- quently issued,
Hongkong Silver and Coppor Subsidiary Coins obtained from England in the years 1875, 1876, 1877, 1879, 1880 and 1881, and subsequently issued, deducting the amount in the Treasury
on the 31st December, 1881,
}
48,000.00
$ 396,000.00
It is impossible to state how many of the above Colas and of Coins of other denominations are in circulation, but the probability is that of the Hongkong Silver Coins there is not 10 per cent. of the total issue at the prescat
time within the Colony.