CO882-(8-9) — Page 175

Sovereign

39675

118

SCHEDULE.

Standard Weight.

Least Current Weight.

REPORT ON

Coin.

Metal.

Millesimal Fineness.

Grains.

Grammer.

Grains.

Grammes.

Gold

916-6 ...!

123-274 7-988

122.500

7.93787

No. 162.

THE GOVERNOR' to THE SECRETARY OF STATE. (Received 27th October, 1906.)

[Ordinance sanctioned, 15th November, 1906. No. 292. L.F.]

[Copy Ordinance to Treasury and Board of Trade, 16th November, 1906. L.F.]

(No. 360.)

MY LORD,

Government House, Singapore, 24th September, 1906.

I HAVE the honour to forward Ordinance No. XXIII. of 1906, entitled "An Ordinance to amend The Currency Note Ordinance, 1899.*"

2. I also enclose the Acting Attorney-General's report explaining the objects of the Ordinance with his certificate that the Royal Assent may be properly given thereto.

I have, &c.,

JOHN ANDERSON.

119

Enclosure 2 in No. 162.

An Ordinance to amend the Currency Note Ordinance, 1899," being

Ordinance No. 23 of 1906.

This Ordinance gives effect to the second recommendation contained in para- graph 61 of the report of the Straits Settlements Currency Committee. Provision has already been made by Ordinance I. of 1906 to give effect to the first recom- mendation in that paragraph. As that Ordinance had the effect of checking a rise in the value of the dollar above certain limits over the fixed rate, so this measure is intended to check any fall, under certain limits, below the fixed rate.

2.

Assent.

I am of opinion that this Ordinance may properly receive the Royal

I have, &c.,

Attorney-General's Chambers, Singapore,

21st September, 1906.

J. R. INNES,

Acting Attorney-General.

38597

SIR,

No. 163.

COLONIAL OFFICE to TREASURY.

Downing Street, 29th October, 1906.

I AM directed by the Earl of Elgin to acknowledge the receipt of your letter

of the 19th of October regarding the currency of the Straits Settlements, and to request you to convey his thanks to the Lords Commissioners of the Treasury for the promptitude with which the new Order in Council has been drafted and sub- mitted to His Majesty.

A copy of a despatcht addressed by Lord Elgin to the Governor of the Colony is enclosed for their Lordship's information.

I am,

&c.,

H. BERTRAM COX.

PUBLIC RECORD OFFICE

Reference :--

TIC.O. 882

سائسس

Short title.

Ord. iv. of

1899.

Ord. zili.

of 1903.

(L.B.)

Enclosure 1 in No. 162.

ORDINANCE No. XXIII. OF 1906.

AN ORDINANCE to amend "The Currency Note Ordinance, 1899."

JOHN ANDERSON,

Governor and Commander-in-Chief.

[14th September, 1906.]

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 Amendment Ordinance, 1906, No. III." It shall be read and construed as one Ord. iv. of with "The Currency Note Ordinance, 1899" (hereinafter called "the principal Ordinance.") Any copy of the principal Ordinance printed after the commence- ment of this Ordinance shall be printed with the amendments and additions made by this Ordinance.

1904.

Ord. iit.

of 1905.

Ord. 1. of

1906.

Ord. v. of

1906.

Issue of gold in exchange

for notes.

2. The following new Section 7c is inserted after Section 78 of the principal Ordinance:

"7c. Notwithstanding anything contained in Sub-section (2) of the last preceding section it shall be lawful for the Commissioners whenever they shall think fit so to do to issue gold in exchange for notes at the rate of exchange notified by Order of the Governor in Council made under the provisions of the last preceding section and the Commissioners may accept tenders for the purchase of telegraphic transfers payable in London by the Crown Agents which afford a sufficient margin below the rate fixed by such Order in Council to cover all charges including interest which be incurred in remitting to London the equivalent in gold at the fixed rate of the notes received for such tender."

Passed this 14th day of September, 1906.

A. H. LEMON,

may

Acting Clerk of Councils.

39411

No. 164.

HOUSE OF COMMONS.

30th October, 1906. SIR DAVID BRYNMOR-JONES asked the Under-Secretary of State for the Colonies whether a new Currency Ordinance had passed the Legislature of the Straits Settlements providing, among other things, that the silver dollar should henceforth weigh 416 grains with 800 fineness; whether the silver dollar at present current weighs 416 grains with 900 fineness; whether according to the law of the Straits Settlements the silver dollar was legal tender for an unlimited amount; if so, could he state the reasons for the lowering of the degree of fineness of the new coin; whether the Governor of the Straits Settlements had given his consent to the new Ordinance; and whether he would lay a copy of the Ordinance upon the Table of the House as soon as possible.

MR. CHURCHILL, in reply, said: "The Currency Ordinance which, it is understood, has just been passed by the Legislature of the Straits Settlements, provides that the Commissioners of Currency may redeem notes in gold or silver at their option. The Commissioners were empowered early in this year to issue notes against gold at the fixed rate of 28. 4d. to the dollar; the Ordinance referred to will allow them to pay in gold also. The reduction in the fineness of the Straits Settlements dollar from 900 to 800 is provided for by an Order passed by His Majesty in Council on the 22nd instant. The provision will operate from a date to be fixed by the Governor. The standard weight of the dollar will remain at 416 grains. The silver dollar is, and will continue to be, unlimited legal tender, and the gold sovereign will also be unlimited legal tender at the fixed rate. The provision for lowering the fineness of the dollar was necessitated by the rise in the value of silver, which has carried the bullion value of the dollar to the level of

• No. 154.

† No. 160.

6

PUBLIC RECORD OFFICE, LONDON

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