PUBLIC RECORD OFFICE
Reference :-
TTIINC.O. 882
9
PUBLIC RECORD OFFICE, LONDON
ALLY WITHOUT PERMISSION OF THE BE REPRODUCED PHOTOGRAPHIC- COPYRIGHT PHOTOGRAPH-NOT TO
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the fixed gold value, and may carry it beyond. The Secretary of State was strongly advised by the Governor to retain the dollar at the fixed value of 28. 4d., and, after careful consideration, he has, with the concurrence of the Lords Com- missioners of the Treasury, taken the above measures with that object. The Governor has not yet reported whether he has assented to the Ordinance empower- ing the Currency Commissioners to pay notes in gold. A copy of the Ordinance will be forwarded in the ordinary course to the Library of the House as soon as copies are received in this country."
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No. 165.
THE SECRETARY OF STATE to THE GOVERNOR. (Sent 6.22 p.m., 3rd November, 1906.)
TELEGRAM.
[Answered by No. 166.]
Referring to your telegram of 23rd October,* have endeavoured to induce Government of India to reconsider decision, but am informed quite impossible for Have them to undertake coinage for Straits Settlements within measurable time. now consulted Royal Mint, who report as follows-Whole ten million dollars would have to be melted down at Birmingham. If they can be delivered by middle of next month, Birmingham could have blanks ready early January. Royal Mint would take over two million for striking, Birmingham would strike rest. Thus whole ten millions would be ready for shipment early February. Birmingham would charge for finished coins 24 per cent. of value, taking dollar for this purpose at four shillings. Charge would thus be over 4 per cent. Macartney thinks no chance of beating down Birmingham price. If coinage could be postponed till Royal Mint is less pressed it could probably be arranged much more cheaply. Tele- graph your views. Steady influx of one dollar notes will no doubt relieve situation, but I understand very difficult to supply more than 600,000 monthly though this could be increased if other notes postponed.-ELGIN.
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No. 166.
THE GOVERNOR to THE SECRETARY OF STATE. (Received 1.33 p.m., 5th November, 1906.) TELEGRAM.
[Answered by No. 176.]
Referring to your telegram of 3rd November,† 10,000,000 dollars cannot be all shipped before 15th December; first batch, 600,000 dollars, addressed Crown Agents, leaves 9th November; postpone other notes for one dollar notes. Singapore Chamber of Commerce urge great reduction in intrinsic value dollar securing our- rency from further advances in value of silver. If new dies can be struck by end of December, recommend fineness 800, reduction weight to 312 grains, half-dollar to be half the weight. If this approved, subsidiary coinage to be reduced to 000
fineness.----ANDERSON.
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BIB,
(Confidential.)
No. 187.
CROWN AGENTS to COLONIAL OFFICE.
(Received 6th November, 1906.)
[Answered by No. 170.]
Whitehall Gardens, London, S.W., 5th November, 1906.
I HAVE the honour to enclose, for the consideration of the Earl of Elgin, a
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copy of a telegram which we have received from the Government of the Straits Settlements on the subject of shipments of coin to this country.
2.
We possess no information on the subject, and I have to request the Secre- tary of State's instructions in the matter.
Enclosure in No. 167.
I have, &c.,
E. E. BLAKE.
COLONIAL SECRETARY, Straits Settlements, to CROWN AGENTS.
TELEGRAM.
5th November, 1906. "Confidential. Sending $600,000 by P. and O. leaving 8th November, addressed you; remaining, $10,000,000 in all, will be sent in batches by middle December. Have accepted P. and O. Company rates-19s. 6d. per £100 London and back, 23s. 6d. Birmingham and back, both rates, freight, and insurance inclusive. Shall I send all direct to you in future?"
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No. 168.
THE GOVERNOR to THE SECRETARY OF STATE. (Received 5.49 a.m., 8th November, 1906.)
TELEGRAM.
[Answered by No. 176.]
Referring to my telegram of 5th November,* motion by Shelford urging very desirable that margin of safety new dollar should be greater than 800 fineness uhani- mously adopted by Legislative Council yesterday. Rapid rise in silver adds weight resolution. ANDERSON.
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SIR,
No. 169.
COLONIAL OFFICE to TREASURY. [Answered by No. 174.]
Downing Street, 10th November, 1906. WITH reference to the letter from this Office of the 29th ultimo, † I am directed by the Earl of Elgin to transmit to you, to be laid before the Lords Commissioners of the Treasury, copy of a telegram from the Governor of the Straits Settlements regarding the recoinage of the dollars of that Colony into dollars .800 fine. It will be observed that the Government of India are unable to help in the matter, and Lord Elgin, who approached the Secretary of State for India with a view to a possible reconsideration of this decision, has learnt that it is absolutely impossible for the Mints of India to undertake recoinage for the Straits Settlements within a measurable time.
In these circumstances his Lordship trusts that their Lordships will authorise De- the Royal Mint to undertake the work, with the assistance of the Birmingham Mint. Unofficial negotiations have already taken place with the Mints, through your partment, as a result of which the Secretary of State sent to the Governor a tele- grams of which a copy is transmitted herewith.
It will be observed from the telegrams of the 5th and 8th instant,|| of which copies are enclosed, that the Governor and the Legislative Council consider that the margin of safety provided by the reduction of the dollar to a fineness of 800 is insufficient, and the Governor recommends a further large reduction in the weight. I am to ask you to favour this Department at the earliest possible date with their Lordships' observations on the necessity of these further measures, which Lord Elgin would feel much reluctance in adopting.
I am, &c.,
C. P. LUCAS.
• No. 159.
† No. 165.
No. 166.
† No. 163.
↑ No. 166.
¡ No. 165.
Nos. 166 and 168. Q
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