CO882-(6-8) — Page 88

REPORT.

TO THE RIGHT HON. JOSEPH CHAMBERLAIN, M.P.,

SECRETARY OF STATE FOR THE COLONIES.

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161

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THE instructions issued to the Committee appointed to consider the question of the establishment of a gold standard in the Straits Settlements and the neighbouring Malay States are contained in a letter from the Colonial Office to the Chairman of the Committee, dated the 12th of November, 1902. In this letter the Committee were asked to make a report with reference to

"(1) The expediency or otherwise of introducing a gold standard of currency in the Straits Settlements and the neighbouring Malay States.

"(2) The practicability of making the change and the steps which in the opinion of the Committee should be taken to effect this object if the change should be decided on."

2. The letter proceeded to say, "With regard to the expediency of the change Mr. Chamberlain realizes that the Committee may not feel them- selves in a position to offer final advice on the subject, but in that case he trusts that they will be able to indicate the lines on which further investiga- tion should be made locally before a final decision is come to."

COUNTRIES FALLING within the Scope of the CoMMITTEE'S ENQUIRY.

3. The Committee apprehend that, in addition to the Colony of the Straits Settlements, the scope of their enquiry includes the Federated Malay States of Perak, Selangor, Negri Sembilan and Pahang, and also the State of Johore. In the opinion of the Committee, it is desirable that the standard of value and the currency of the Straits Settlements and the Federated Malay States should continue to be identical, and they hold the same opinion with regard to Johore.

4. There already exists an Agreement between the Secretary of State for the Colonies and the Sultan of Johore, regarding the supply of the subsidiary coins of the Straits Settlements for use in Johore, but altogether apart from this Agreement the Committee consider that Johore should, on general grounds, be included in any scheme that may be decided on for the Straits Settlements and the Federated Malay States, and this is in accordance with the opinion of the Representative of the Sultan and Government of Johore in this country, who appeared as a witness before the Committee.

5. The Committee have learnt* that Sarawak is anxious to join in such a scheme, but they do not consider that any Colonies or States other than those already specified fall within the scope of their enquiry.

EXISTING CURRENCY.

6. The currency of the Straits Settlements is regulated by an Order in Council of the 2nd of February, 1895, as amended by the subsequent Order in Council of the 20th of October, 1898. The standard coin is the silver Mexican dollar, of 902-7 millesimal fineness, with a minimum weight of 411 grains. The British dollar and the Hong Kong dollar of 900 millesimal fineness, and a minimum current weight of 411 grains, are, under the Orders in Council, treated as equal to the standard coin. The Japanese dollar or yen, of the same weight and fineness as the British dollar, was under the earlier of the two Orders in Council, placed on the same footing as the British dollar, but was demonetized by the subsequent Order in Council.

8849.

* Appendix 18 (7). b

PUBLIC RECORD OFFICE

Reference :-

C.O. 882

7 PUBLIC RECORD OFFICE, LONDON

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