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PUBLIC RECORD OFFICE

Reference :-

TELLICO. 882

ستسلا

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ALLY WITHOUT PERMISSION OF THE BE REPRODUCED PHOTOGRAPHIC- COPYRIGHT PHOTOGRAPH-NOT TO:

PUBLIC RECORD OFFICE, LONDON

39078

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26

No. 42.

THE GOVERNOR to THE SECRETARY OF STATE.

(Received 26th October, 1903.)

[Answered by Nos. 43 and 57.]

(No. 414.) SIR,

Government House, Singapore, 30th September, 1903. I HAVE the honour to state that the Colonial Treasurer has brought to my notice the possibility that, before a ratio between the Straits dollar and the sovereign is fixed, there may be a scarcity of currency in the Colony which might inflate exchange much above the limit at which it is desirable ultimately to fix it, or that the scarcity might be such as to demand an immediate further supply of currency. The recent sudden rise in exchange to nearly 2s. to the dollar showS that such inflation is possible and it would be well to be prepared for all con- tingencies.

2. The Treasurer suggests, therefore, that the Commissioners of Currency might be granted powere to issue currency notes or coins from the reserve against gold or gold securities deposited with the Crown Agents. If gold securities were deposited against currency notes or coin advanced by the Commissioners interest would be paid; if gold in the form of sovereigns it would be put out at interest by the Crown Agents. In either case the interest would be credited to the Currency Note Fund.

3. Repayment would be made at the end of the period agreed upon, either in currency notes or in coin which was legal tender at the time of repayment. The gold or securities held by the Crown Agents would then be released. If repayment were made after the fixing of the ratio between the Straits dollar and the sovereign. the repayment might be made in gold at the ratio determined. The deposita would be only intended as security for temporary advances in cases of emergency.

4. As special legislation would be required to give effect to this proposal, I submit, for your consideration, the accompanying draft Ordinance,* which could at once be passed through the Legislative Council should occasion arise.

39078

No. 43.

I have, &c.,

F. A. SWETTENHAM.

THE SECRETARY OF STATE to THE GOVERNOR. (Sent 10.50 a.m., 30th October, 1903)

TELEGRAM.

[Answered by No. 44.]

Confidential. Telegraph when prohibition to import Mexican and British dollars will come into operation. How many Straits dollars have been circulated? -LYTTELTON

39736

No. 44.

THE ACTING GOVERNOR to THE SECRETARY OF STATE. (Received 7.53 a.m., 31st October, 1903.)

TELEGRAM.

[Answered by No. 57.]

Confidential. In reply to your telegram of yesterday's date,t prohibition to import British and Mexican dollars, notification published in Government Gazette," of 2nd October. 2,700,000 dollars, Straits, have been received, of which banks received 2,000,000 dollars, Colonial Treasurer 400,000 dollars, and 300,000

+ No. 43.

• For Ordinance as sanctioned see No. 61.

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dollars have been placed at disposal of local currency note reserve; 1,000,000 dollars expected to arrive to-day.-TAYLOR.

39900

(No. 431.)

SIR,

No, 45.

THE GOVERNOR to THE SECRETARY OF STATE. (Received 2nd November, 1903.)

[See No. 52.]

another

Government House, Singapore, 7th October, 1903.

I HAVE the honour to acknowledge the receipt of your telegram, dated the 19th September, in the following words:

Referring

[See No. 35]

paragraph 2."

2. I now enclose, for your information, copies of the following:

(1) Proclamation, dated 2nd October, declaring the Straits Settlements dollar

legal tender from the 3rd instant.

(2) Order in Council prohibiting the importation of British and Mexican

dollars from the 3rd instant

*

(3) Order in Council prohibiting the exportation of Straits dollars from the

3rd instant.

(4) Order in Council, dated the 2nd instant, exempting the Federated Malay States and Johore from the operation of the two last preceding Orders. (5) Proclamation, dated the 5th instant, constituting the new Straits dollar

the standard coin of the Colony.

I have, &c.,

Enclosure 1 in No. 45.

F. A. SWETTENHAM.

ORDER IN COUNCIL under "The Coin Import and Export Ordinance 1903." ORDER by His Excellency the Governor in Council under "The Coin Import and Export Ordinance 1903.”

"

Whereas by Section 3 (1) of "The Coin Import and Export Ordinance 1903 it is provided that subject to the approval of a Secretary of State it shall be lawful for the Governor in Council to prohibit the importation into the Colony of such coins whether legal tender within the Colony or not as are in such Order specified :

Now I, Sir Frank Athelstane Swettenham, Knight Commander of the Most Distinguished Order of Saint Michael and Saint George, Governor and Commander- in-Chief of the Straits Settlements, by virtue of the powers vested in me by the said Ordinance, with the advice of the Executive Council and subject to the said approval, do hereby prohibit the importation into the Colony of the coins known as the British Trade dollar and the Mexican dollar from and after the 3rd day of October, 1908.

E. G. BROADRICK,

Council Chamber,

蠢

Singapore, 2nd October, 1908.

Enclosure 2 in No. 45.

Acting Clerk of Councils.

ORDER IN COUNCIL under "The Coin Import and Export Ordinance 1903."

ORDER by His Excellency the Governor in Council under "The Coin Import and Export Ordinance 1908.”

+

Whereas by Section 3 (2) of "The Coin Import and Export Ordinance 1903

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it is provided that subject to the approval of a Secretary of State it shall be lawful for the Governor in Council to prohibit the exportation from the Colony of such coins being legal tender within the Colony as are in such Order specified :

Now, I, Sir Frank Athelstane Swetterham, Knight_Commander of the Most Distinguished Order of Saint Michael and Saint George, Governor and Commander- in-Chief of the Straits Settlements, by virtue of the powers vested in me by the said

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