Council 14 Sept 2
Gibraltar & when the hoops are paid in Dollars, it is at the rate of 5 pence for the ⋆ By order in Dollar. The Ships of war now in Hong Kong Bay, are paid at the dollar at 30 pence, while the Sheeps and Government servants there are paid at 52 pence.
In all our 1838 possessions except Hindostan, payments are made, and accounts kept in coin of British denominations. There does not appear reason why Hong Kong should form an exception to the general rule. If Dollars requisite for commercial transactions with the Chinese, they will always be bought thither from the South American Coast, in abundance; and as economically as they conveyed to Canada, or sent to England - the difference between 45 and 50 pence covering well the expense of freight, insurance, and Commission.
The annual expenses of this Colony, and of the Consular Establishments on the East of China will be about £80,000 a year. To meet these charges, neither the Colonial Revenue, nor the Consular fees will for some years be adequate: The Military force to be maintained here, must for reasons of state policy, for some years be retained not less than that now maintained. At the present moment two European and five Native Regiments with small detachments of Artillery, Engineers &c, cost about $1,292,000 per annum, at 44/4 per dollar £279,933.
These charges, which cannot be reduced, are independent of the cost of the naval squadron. It is therefore, a very serious question, how the coin to pay charges amounting to about $350,000 a year, is to be hereafter provided.
The importance of the subject immediately
Comicil 14 Sept 2
Gibraltar & when the hoops are paid in Dollars, it is at the rate of 5 pence for the ⋆ By order in Dellar . The Ships of tear now in Horghang
rid the dollar at 30 pence,
Bay, are paid
while the Sheeps and bevernment drvants
on there are paid at 52 pence.
arry
Ine all our
1838
· possessions except. Hindostan; payments are made, and accounts kept in coin of British denarnications- There does not appear.
reason why Houghing should form an Exceptions to the genral rule. If Follarsh requisite for commercial transactions with the Chinck, they will always be hought thither from the bouth American Coast, in abundance; and as vconomically as they conveyed to Canada, or son to England- the difference between 45 and 50 pence - Covering well the sexpense of peight, intrance and Commission.
are
The
251
The annual expenses of this Colony, and of the Consular Establishments on the East of China will be about £80,000 a year. To meet thek charges, neither the Colonial Revenue, nor the Consular feet will for
1 for some years be adequate : The Military force to be anaintained here, must for reasons of state policy, for
not less than that
now
some years be
retained.-A.
annum, a
the present moment two European and tive Native Regiments with small detachments of Artillery, Enginens &e, cost about $1,292,000 per
1, at 44/4 per dollar £279,933.
These charges, which cannot be reduced, are independent of the cost of the haval squadron. It is therefore, a very serious question, how the coin to pay charges amounting to about $350,000 a year, is to be hereafter provided.
The importance of the subject immediately
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