1887 — Page 199

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LAW AFFECTING CURRENCY.

1. Order in Council of 9th January, 1963, published in Government Gazette of Zul May, 1963, ddv Daewo that Mexican Dollars or other Silver Dollars of equivalent value duly authorised by the Governor of Hongkong shall be the only legal tender, and provides that Silver Coins representing same multiple of the cent or ques hundredth part

of the said Dollars shall be a legal tender for any sam not exceeding Two Dollars, and that Copper or Bronze Coins representing the cent or one-hundredth part, or the mil or cash representing one-thonsandth part of the Dollar shall be a legal tender for any sum not exceeding One 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 186-1.

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

3. Proclamation under Ordinance 1 of 1864.—See Gazette of 23rd January, 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 Gazelle of 12th January, 1867.—Thieso nro regulations for Dollar, Half-Dollar, and Subsidiary Coinage made in pursuance of Ordinance 2 of 1864 (the Hongkong Mint Ordinance, sec. 2 of which empowers the Governor to frame regulations under which the Mint shall receive Silver Bullion, and coin the same).

7. Ordinance 6 of 1865, sections 13, and 20.-This Ordinance relates to the offence of forging Bank Notes.

8. Ordinance 10 of 1865.-Offences against Coinage, but sections 4, 5, 16, 17, 26, and 27 not in forco by Proclamation in Gazette of 21st October, 1865, under the Ordinance.

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

Order in Council, 27th November, 1875,-Rate for issua of Silver Dollar to Hor Majesty's troops reduced from 48. 3d. 10 48. ld.

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

1. The Silver Dollar of Mexico.

2. The Hongkong Dollar and Half-Dollar issued from Hor Majesty's Mint. 3. Silver Coins issued from Her Majesty's Mint, representing :-

—

(1.) One-fifth part of the said Dollar, commonly called Twenty Cont Piece (2.) One-touth part of the said Dollar, commonly called Ton Cont Pioco; and (3.) One-twentieth part of the said Dollar, commonly called Fivo Cont Pioco.

4. Coppor or Bronza Coins, also issued from Her Majesty's Mint, representing :-

(1.) One-hundredth part of the said Dollar, and commonly called Ono Cont; and (2.) Ono-thousandth part of tho said Dollar, and commonly called Mil or Caslı;

AMOUNT OF COIN IN CIRCULATION.

Approximato amount of Hongkong Dollars and Half-Dollars strtok at the Hongkong Mint,...$1,421,-187.00)

Approximato amount of Hongkong Silver and Coppor Subsidiary Coins (20, 10 and 5 Cont

plocos; and I Cont and Mil piocos) put into circulation up to 81st Decumbor, 1887,.............................................. } 82,481,181.00

It is impossible to state how many of tho above Coins, and of Coins of other denominations uro in circulation, but the probability in that of the Hongkong Silver Coins there is not 10 per cent, of the total issue at the prosont

lina within the Colony. The importation of Copper Coin has boon discontinued.