Berial
From or to whom.
Subject.
Page.
No.
Despatch No, zo.
Date.
xii
1906.
1906.
-
109
108 To the British North Borneo Company.
The Governor
January 20
States that the representations in No. 106 will receive careful consideration.
Telegram (Rec. Jan. 27) Reports that he is satisfied that it would be better to fix the rate now than to prolong the uncertainty, and he is summoning a Council for January 29th to amend the Currency Note Ordinance accordingly.
80
118
The Governor
47
February 15 |(Reo. Mar. 10.)|
80
119
To Crown Agents...
March 14
110
Ditto
Telegram (Rec. Jan. 29) Reports the passing of the Currency Bill, and the issue of an Order of the Governor in Council, fixing the value of the dollar at 2s. 4d.
81
120
To Treasury
March 21
121
To the Acting Gov-
60
March 23
111
Crown Agents
February 1
81
ernor.
112
To the Chartered
February 3
Bank of India,
Australia, and China.
113
To Board of Trade
February 5
114 To the Governor...
Confi- dential.
February 16
Encloses copies of letter from the Chartered Bank of India, asking for information as to the gold basis of the Straite dollar, and of telegraphic correspondence with the Government of the Straits Settlements as to the cost at which gold could be shipped from this country.
Informs them of the steps recently taken to fix the rate of exchange of the Straits dollar, and of the procedure necessary to obtain notes for gold; the Currency Commissioners do not undertake to give gold in exchange for notes, but it has been proposed that the Government should take that step hereafter.
Summarises the steps recently taken to bring about fixity of exchange be- tween the pound sterling and the new Straits Settlements dollar.
Expresses the opinion that there is no advantage in making gold legal ten- der points out that his action in relieving the market of subsidiary silver coin, as reported in No. 97, was illegal, and requests that the matter may be remedied without delay.
25
82
83
122
The Acting Gover-
76
nor.
123
Treasury
Subjent.
Page.
87
88
88
89
89
91
March 5 (Reo. Mar. 31.)
April 7
States that certain Penang Banks have naked whether the same facilities will be offered in Penang sa in Singapore for the issue of notes in exchange for gold; submits question for favourable consideration.
Approves, in reply to No. 117, of the carrying out the wishes of the Colonial Government.
Encloses copy of No. 115, together with
draft reply. States, in reply to No. 118, that there appears to be no necessity for the issue of notes at Penang, but there is no objection to the Government making arrangements for the ex- change of notes or silver against sovereigns which could be sent to Singapore, and notes obtained there.
Submita Ordinance No. V of 1906, “An Ordinance farther to amend "The Currency Note Ordinance, 1899,*" and the Acting Attorney-General's report thereon.
Concurs in that portion of the draft enclosed in No. 120 which authorises the Colonial Government when the exchange falls to 2s. 3jd, to give out gold in exchange for notes, if necessary to the full extent of the gold reserve, but desires more detailed information hefore expressing concurrence in the proposal to authorise the Straits Government to sell telegraphic trans- form on the Crown Agents.
Gives the further details asked for in
No. 193.
Explains, in reply to No. 114, why subsidiary coin was held against notes: the whole amount has now been replaced by dollars.
States, with reference to the proposed male of telegraphic transfers, that Treasury would prefer that the Governor should be instructed, if at any time he thinks special action desirable, to telegraph to the Secretary of State giving his grounds for think- ing that Government operation on the exchanges is desirable and likely to be effective.
Repeats opinion that the Currency Com- missioners were not justified in læsning notes against large sums of subsidiary coins, and observes that the payment of $300,000 to the Note Guarantoo Fund to make up the deficiency on the value of Investments was equally objectionable.
83
184
To Treasury
April 20
125
The Acting Gover-
nor.
Confi. dential.
April 26 (Res." May 19.)|
May 24
115
The Governor
31
January 31 (Rec. Feb. 24.)
Confirms No. 110 and requests authority to sell gold or a telegraphic transfer on the Crown Agents should rate of exchange drop to 28. 34d.
85
126
Treasury
116
Ditto
39
February 8 (Rec. Mar. 3)
11
Crown Agents
March 8
Babmits Ordinance No. 1 of 1906, “ An Ordinance further to amend 'The Currency Note Ordinance, 1899,'" and Attorney-General's report thereon.
Tranumita copy of letter from the Government of the Straits Settle- ments regarding the shipment of gold to Singapore, and asks if the Secretary
of State approves of their carrying out the wishes of the Colonial Govern- ment.
85
127
To the Acting Gov-
87
ernor.
Confi. dential.
May 24
91
92
92
93
PUBLIC RECORD OFFICE
Reference :-
TICO. 882
9
PUBLIC RECORD OFFICE, LONDON
ALLY WITHOUT PERMISSION OF THE BE REPRODUCED PHOTOGRAPHIC-
COPYRIGHT PHOTOGRAPH---NOT TO:
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