CO129-116 - Sir MacDonnell - 1866 [11-12] — Page 220

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

218

all sufficient, there is reasonable prospect of the Public supplying it with enough silver to keep it in successful i.e. paying operation. On that, the all important point the I may add that if the Government were to lay in a stock of bullion for such purpose it would generally suffer heavy loss thereby in interest which no probable profit on Commission unless holds out no hope that under rare and exceptional circumstances unlikely to recur - or, if recurring, not likely to be of long duration - Can it be expected that the Public will pay a Seignorage for conversion of silver coin or Bullion into Hong Kong dollars. The Commission further concludes that neither the Government nor the general Public can purchase bullion and profitably coin it here, to which could repay.

III. The Commission likewise regards as chimerical all attempts of the Government by any amount of coinage to force Hongkong coins to a premium as might eventually render it's manufacture profitable - I need scarcely say that I only suggested that theory for consideration because, having been held by many others, Inquiry to be complete should include it.

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218all sufficient, there is reasonable prospect of the Public supplying it with enough silver to keep it in successful i.e. paying operation. On that, the all important point the I may add that if the Government were to lay in a stock of bullion for such purpose it would generally suffer heavy loss thereby in interest which no probable profit on Commission unless holds out no hope that under rare and exceptional circumstances unlikely to recur - or, if recurring, not likely to be of long duration - Can it be expected that the Public will pay a Seignorage for conversion of silver coin or Bullion into Hong Kong dollars. The Commission further concludes that neither the Government nor the general Public can purchase bullion and profitably coin it here, to which could repay.III. The Commission likewise regards as chimerical all attempts of the Government by any amount of coinage to force Hongkong coins to a premium as might eventually render it's manufacture profitable - I need scarcely say that I only suggested that theory for consideration because, having been held by many others, Inquiry to be complete should include it.

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218all sufficient, there is reasonable prospect of the Public supplying it with enough silver to keep it in successful i-e. paying operation. On that, the all important point the I may add that if the Government were to lay in a stock of bullion for such purpose it would generally heavy loss thereby insufferin interest which no probable profit Commission unless holds out no hope that under rare and exceptional circumstances unlikely to recur- or, if recurring, not littely to be of long. duration - Can it be expected that the Public will pay a Seignorage for conversion of silver coin or Bullion into HongKong dollars. The Commission further concludes that neither the Government general Public canment nor the purchase bullion and profitably coin it here, to which could repay.Ill. The Commission likewise regards as chimerical all attempts of the Government by any amount of comage to force Hongkong boins to premium as might eventually render it's manufacture profitable - Isuch a need scarcely say that I only suggested that theory for consideration because, having been held by many others, Inquiry to be completeam should include it.

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218

all sufficient, there is reasonable

prospect of the Public supplying it with enough silver to keep it in

successful i-e. paying operation. On

that, the all important point the

I may add that if the Government

were to lay in a stock of bullion

for such

purpose it would generally

heavy loss thereby in

suffer

interest which no

probable profit

Commission unless

holds out no

hope that

under rare

and

exceptional

circumstances unlikely to recur- or,

if recurring, not littely to be of long. duration - Can it be expected that the Public will pay a Seignorage for conversion of silver coin or Bullion into HongKong dollars. The Commission further concludes that neither the Government general Public can

ment nor the

purchase bullion

and profitably coin it here, to which

could repay.

Ill.

The Commission likewise regards as chimerical all attempts of the

Government by any amount of comage to force Hongkong boins to

premium as might eventually render it's manufacture profitable - I

such a

need scarcely say that I only

suggested that theory for consideration because, having been held by many others,

CO129-116 - Sir MacDonnell - 1866 [11-12] — Page 220

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