CO129-097 - Acting Governor Mercer - 1864 [1-2] & Sir Robinson - 1864 [1-3] — Page 421

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed

414

The foregoing calculation is confined to the saving which would be effected under ordinary circumstances by the Home Government merely supplying the Commissariat chest in Hongkong with British instead of Mexican Dollars; but the saving under existing circumstances would probably be far greater, for the Home Government is at the present time and will for some time be receiving here large amounts of Lycee Silver in payment of the Chinese Indemnity. The Treasury chest is at present supplied with funds by the exchange of this Lycee for Mexican Dollars at the current rates in China - But Mr Maturin, the Commissariat Officer in charge there, with whom I have communicated on this subject and who entirely concurs in the views expressed in this despatch, has stated to me that were the Treasury supplied from home with British dollars, and were thus enabled to remit the Sycee in Sterling Bills on England, the profit to the Imperial Exchequer on the double transaction would probably be considerably over 10 per cent.

10.

At this rate the clear saving to the Home Government which would be effected by my proposal would be at the rate of $300,000 a year after payment of all the expenses of coinage in London.

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414 9. The foregoing calculation is confined to the saving which would be effected under ordinary circumstances by the Home Government merely supplying the Commissariat chest in Hongkong with British instead of Mexican Dollars; but the saving under existing circumstances would probably be far greater, for the Home Government is at the present time and will for some time be receiving here large amounts of Lycee Silver in payment of the Chinese Indemnity. The Treasury chest is at present supplied with funds by the exchange of this Lycee for Mexican Dollars at the current rates in China - But Mr Maturin, the Commissariat Officer in charge there, with whom I have communicated on this subject and who entirely concurs in the views expressed in this despatch, has stated to me that were the Treasury supplied from home with British dollars, and were thus enabled to remit the Sycee in Sterling Bills on England, the profit to the Imperial Exchequer on the double transaction would probably be considerably over 10 per cent. 10. At this rate the clear saving to the Home Government which would be effected by my proposal would be at the rate of $300,000 a year after payment of all the expenses of coinage in London.

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414 9. The foregoing calculation in confined to the saving which would be effected under ordinary circumstances by the Stome Government merely supplying the Commissariat chest in Stoughtong with Bilish instead of Follars; but the saving Mexican under existing circumstances would probably be for greater, for the Stome Government is at some time be present and will for receiving here large amounts of Lycee Silver in payment of the Chinese Indemnity. The Treasury chest is at present supplied with fund by the exchange of this Lycee for Mexican Dollars at the current rates in china - Bout Mr Maturin the Commissariat Officer in charge there- with whom I have communicated on this subject and who entirely concurs in the views expressed in this despatch_ has stated to me he were his opinion that if supplied from home with British dollars, and were thus enabled to remit the Sycee in Sterling Bills on England the profit to the Imperial Exchequer on the double transaction would probably be considerably over 10 per cent. 10. At this rate the clear saving to the Home Government which would be effected by suy proposal would be at the rate of $300,000 a year after payment of all the expences of coinage in London.

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414

The foregoing calculation in confined to the saving which would be effected under ordinary circumstances by the Stome Government merely supplying the Commissariat chest in Stoughtong

with Bilish instead of

Follars; but the

saving

Mexican

under existing

circumstances would probably be for greater, for the Stome Government is at

some time be

present and will for receiving here large amounts of Lycee Silver in payment of the Chinese Indemnity. The Treasury chest is at present supplied with fund by the exchange of this Lycee for Mexican Dollars at the current rates in china - Bout Mr Maturin

the Commissariat Officer in charge there- with whom I have communicated on

this

subject

and who

entirely

concurs

in the views expressed in this despatch_ has stated to me

were

his opinion that if

supplied from home with

British dollars, and were

thus enabled

to remit the Sycee in Sterling Bills on England the profit to the Imperial Exchequer on the double transaction would probably be considerably over 10 per cent.

10.

At this rate the clear saving to

the Home Government which would be effected by suy proposal would be at the rate of $300,000 a year after payment of all the expences of coinage in London.

CO129-097 - Acting Governor Mercer - 1864 [1-2] & Sir Robinson - 1864 [1-3] — Page 421

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