1882 — Page 172

(Q3)

LAW AFFECTING CURRENCY.

1. Order in Council of 9th January, 1863, published in Gorernment Gazette of 2nd May, 1863, declares that Mexican Dollars or other Silver Dollars of equivalent value duly authorized by the Governor of Hongkong shall be the only legal tender, and provides that Silver Coins representing some multiple of the cent or one- hundredth part of the said Dollar shall be a legal tender for any sum not exceeding Two Dollars, and that Copper or Bronze Coins representing the ceut or one-hundredth part or the mil or cash representing one-thousandth part of the Dollar shall be a legal tender for any sum not exceeding Que Dollar. Provides also as to the preparation and devices of such Coins to be issued from the mint. See preamble to Local Ordinance 1 of 1864.

2. Ordinance No. 1 of 1864 recites the above Order in Commeil, and provides that British Sterling is to be converted into Dollars at 4s. 2d. per Dollar, when the Governor proclaims it.

3. Proclamation under Ordinance I of 1864. See Gazette. 23rd Jannary, 1864. By this Proclamation Ordinance 1 of 1864 is to take effect from 16th February, 1864.

4. Ordinance 2 of 1864.-This Ordinance provides for the establishing of a mint in the Colony (which was established and worked, but has been removed for some years).

:

5. Governor's Proclamation in Gazette of 14th September, 1866.—This Proclamation recites Order in Council of 1863, and proclaims the Hongkong Dollar and Half-Dollar legal tender.

6. Treasury Regulations of 20th October, 1866, published in Gazette, 12th January, 1867.-These regula tions for Dollar, Half-Dollar, and Subsidiary Coinage made in pursuance of Ordinance 2 of 1861.—The Hongkong Mint Ordinance, see. 2 of which empowers the Governor to frame regulations under which the mint shall receive Silver Bullion and Coin the entne.

7. Ordinance G of 1865, sections 13, 20.-This Ordinance relates to the offences of forging Bank Notes,

8. Ordinance 10 of 1865.—Offences against Coinage, but sections 4, 5, 16, 17, 26, 27 not in force by Pro- clamation in Gazetto of 21st October, 1865, under the Ordinance.

9. Proclamation under Ordinance 10 of 1865. See Gazette 21st October.-N.B.-This is important, as it permits the Chinese Custom in South China of chopping Dollars,

Order in Conucil, 27th November, 1875,-Rate for issue of Silver Dollar to Her Majesty's troops reduced from 4s. 3d. to 4s, 1d.

The above Currency consists of the following Coins, viz.:—

1. The silver Dollar of Mexico.

2. The Hongkong Dollar and Half-Dollar issued from Her Majesty's Mint.

3. Silver Coins issued from Her Majesty's Mint, representing

(1.) One-fifth part of the said Dollar, and connmonly called Twenty Cent Piece ;— (2.) One-tenth part of the said Dollar, and commonly called Ten Cent Piece; and (3.) One twentieth part of the said Dollar, and commonly called Five Cent Picce, 4. Coppor or Bronzo Coins, also issued from Her Majesty's Mint, representing :-

(1.) One-hundredth part of tho said Dollar, and commonly called One Cent; nid (2.) One-Thousandth part of the said Dollar, and commonly enlled Mil or Cash.

AMOUNT OF COIN IN CIRCULATION.

Approximato amount of Hongkong Dollars and Half-Dollars struck at the Hongkong Mint, ...$1,421,487.00 Approximate amount of Hongkong Silver and Copper Subsidiary Coins (20, 10 and 5 Cent Į $ 355,981.00

pieces; and 1 Cent and Mil piocos) put into circulation up to 31st December, 1873,

Hongkong Silver Subsidiary Coins obtained from England in the year 1874, and subse- quently issued,

Hongkong Silver and Copper Subsidiary Coins obtainal from England in the years 1875," 1876, 1877, 1879.1880, 1981, and 1882 and subsequently issued, deducting the amount in the Treasury on the 31st December, 1882,

48,000.00

8 306,800.00

It is impossible to state how runny of the shira. Coins and of Coins of other denominations are in eirculation, but the probability is that of the Hongkong Silver Coins there is not 10 per cent, of the total issue at the present

time within the Colony,