204
2 A copy of your telegram was referred to the Crown Agents for their obser- vations, and I now enclose a copy of their reply.*
3. I should be glad to receive an explanation of your reasons for fixing the selling price at 27d.
44573
SIR,
No. 275.
CROWN AGENTS to COLONIAL OFFICE
(Received December 5, 1908.)
I have, &c.,
CREWE.
Whitehall Gardens, London, S.W., 4 December, 1908. I HAVE the honour to enclose, for the information of the Secretary of State, a copy of a further letter which we have addressed to the Government of the Straits Settlements on the subject of the currency question.
I have, &c.,
E. E. BLAKE.
187
(No. 462.)
MY LORD,
205
No. 276.
THE GOVERNOR to THE SECRETARY OF STATE.
(Received January 2, 1909.)
Government House, Singapore, 9 December, 1906. I HAVE the honour to forward herewith copies of an Ordinance further to amend the Currency Note Ordinance, 1899, passed by the Legislative Council on the 27th ultimo, together with the Acting Attorney-General's report on the Ordin- ance and copies of the proceedings of the Council and the report* of the Select Committee to which the original Bill was referred for consideration.
2. I enclose also copies of Council Paper No. 39 containing certain corres- pondence on the subject which passed between the Government and the Singapore Chamber of Commerce, and a protest which has been handed in by Mr. Baker on behalf of the Unofficial Members of the Council. Copies of the Ordinance as it stood amended prior to the date of this amending Ordinance are also enclosed for convenience of reference.
+
3. The letter of the 24th August, 1908, from the Chairman of the Chamber of Commerce, see Legislative Council paper No. 39 of 1908 enclosed, appears to show that the Committee of that Chamber which dealt with the matter were guided by the representatives of the exchange banks.
I have, &c.,
PUBLIC RECORD OFFICE
Anference :-
TITLE CO. 882
mil
9
PUBLIC RECORD OFFICE, LONDON
| ALLY WITHOUT PERMISSION OF THE BE REPRODUCED PHOTOGRAPHIC- COPYRIGHT PHOTOGRAPH—NOT TO
SIR,
Enclosure in No. 275.
CROWN AGENTS to the COLONIAL SECRETARY, Straits Settlements.
(376 A. Straits and F. M. S.)
Whitehall Gardens, S. W., 4th December, 1908.
Straits Settlements and Federated Malay States.
I HAVE the honour to confirm the following telegram :—
1st December: "6. Pay Marten on account of Aird $85,000."
2. The buying and selling rates quoted for telegraphic transfers were 23. 4d.
and 2s. 37d., and we have therefore sold this transfer to Messrs. Aird & Co. at the mean rate of 2s. 3 15/16d., producing the sum of £9,894 10s. 8d.
3. We have carried the transaction through, as will be seen from our Straits Loan and Federated Malay States Accounts, in the manner indicated in our letter
of 1st October, No. 291, and directed by your telegram of the 10th of July.
4. This transaction is the fourth we have concluded with Messrs. Aird & Co., making a total of $280,000 remitted for them.
The
5. When we first suggested the arrangement, we had contemplated that the money we might receive here would be used to release some of the securities pledged against the advances which we made here to the Currency Commissioners from loan funds and subsequently towards building up a gold reserve here. manner in which the system is being worked would, however, appear to defeat this object, and we would suggest that the Colonial Government should reconsider the subject and see whether it cannot take on itself the obligation of meeting our drafts instead of treating them as a means of "remittance to us from the Federated Malay States Government.
6. At present we have not been able to bring Messrs. Jackson within the arrangement, and we understand that they have private relations with the Hong Kong and Shanghai Bank, so that it does not seem likely that they will adopt the system. We will, however, endeavour to bring Messrs. Topham, Jones, and Railton, who have just secured the graving dock contract at Tanjong Pagar, within the arrangement.
I have, &c.,
E. E. BLAKE.
• No. 273.
Enclosure 1 in No. 276.
ORDINANCE NO XXVII, or 1908.
JOHN ANDERSON.
AN Ordinance further to amend "The Currency Note Ordinance, 1899.”
(L.8.)
JOHN ANDERSON,
Governor and Commander-in-Chief.
[2nd December, 1908.]
It is hereby enacted by the Governor of the Straits Settlements with the advice
and consent of the Legislative Council thereof as follows:-
1. This Ordinance may be cited as "The Currency Note Ordinance 1899 Bhors alike, Amendment Ordinance 1908" and shall be read and construed as one with "The Currency Note Ordinance 1899" (hereinafter called "the principal Ordinance"). Any copy of the principal Ordinance printed after the commencement of this Ropelats. Ordinance shall be printed with the amendments and additions required by this Ordinance.
2. Section 3 of the principal Ordinance is amended by inserting in the first Amsmadment line of subsection (2) after the word "Singapore" the words "and at such other places as the Governor may appoint."
3. Subsection (4) of section 4 of the principal Ordinance is repealed.
of section. of the
prinsipal
Ordinamos. Repeal of svellón 4 (4).
Amendment
of the
4. Section 7 of the principal Ordinance is amended by the insertion of the words "or in London by the Crown Agents for the Colonies" after the word "Com- ofretion 7 missioners" in the third line of subsection (1) and of the words "or of the Crown principal Agents for the Colonies" after the word "Commissioners" in the fourth line of subsection (2) and also by the addition of a new subsection to be numbered (6) as follows:-
"(6) The proportion of gold to silver in the coin portion of the fund shall as soon as practicable be raised to two of gold to one of silver."
Ordinamos.
5. Subsection (2) of section 7A of the principal Ordinance is repealed and the now following new subsection substituted therefor :--
en beection
TA (3).
• Not reprinted.