CO129-120 - Sir MacDonnell - 1867 [1-2] — Page 101

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

willing to purchase bullion at its present Market value and coin it into dollars.

4. Sir Rutherford Alcock animated by similar friendly intentions towards this Colony has written to say that he will instruct the Auditor General to transmit in future the amount required for payment of Diplomatic Services in Hong Kong Dollars, with a view to bringing them into circulation.

5. I am obliged to inform Sir Rutherford Alcock that I am unable to accommodate him in this matter, because I have neither authority nor funds to incur the cost of manufacturing those dollars. Government cannot enter into a speculation of buying Silver for the purpose of turning it out in any particular form, more especially at a time when it is obvious that it would lose 1 per cent on such transactions.

6. As an experiment and with a view to furnishing your Lordship with further information, I have already reduced the Seigniorage to 1 per cent, but nevertheless not a dollar has been coined at the Mint.

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4 99 willing to purchase bullion at its present Market value and coin it into dollars. 4. Sir Rutherford Alcock animated by similar friendly intentions towards this Colony has written to say that he will instruct the Auditor General to transmit in future the amount required for payment of Diplomatic Services in Hong Kong Dollars, with a view to bringing them into circulation. 5. I am obliged to inform Sir Rutherford Alcock that I am unable to accommodate him in this matter, because I have neither authority nor funds to incur the cost of manufacturing those dollars. Government cannot enter into a speculation of buying Silver for the purpose of turning it out in any particular form, more especially at a time when it is obvious that it would lose 1 per cent on such transactions. 6. As an experiment and with a view to furnishing your Lordship with further information, I have already reduced the Seigniorage to 1 per cent, but nevertheless not a dollar has been coined at the Mint.

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4 99 willing to furchase bullion at its present Market value and coim it into dollars. 4. Für Rutherford Alcock animated by similar friendly intentions towards this Colony has written to say that he will instruct the auditor General to transmit in future the amount required for payment of diplomation Services in Hong Kong Sollers, with a view to bringing them into circulation.__ 5.- I am obliged to inform Sir Puntherford Hack that I am unable to accommodate him in this matter. because I have neither autority not funds to incur the cart of — manufacturing those dollars.. Government cannot enter into a Kis speculation of buying Silver for the furpose of turning it out in any Carticular form more especially at an A time when it is obvious that it would ise I fer cent on inch bansactions._ 6.. As an experiment and with a view to furnishing your Ländchipe with further information, I have breaty reduced the Seiquanger to I for cent- but nevertheless sut not a dollar has been coined at the Mim

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willing to furchase bullion at its present Market value and coim

it into dollars.

4. Für Rutherford Alcock animated by similar friendly intentions towards this Colony has

written to

say

that he will instruct the auditor General to transmit

in future the amount required for payment of diplomation Services in Hong Kong Sollers, with a view to bringing them into circulation.__

5.-

I am obliged to inform Sir Puntherford Hack that I am unable to accommodate him in this matter.

because I have neither autority

not funds to incur the cart of — manufacturing those dollars.. Government cannot enter into a

Kis

speculation of buying Silver for the

furpose of turning it out in any

Carticular form

especially

at an

time when it is obvious that

it would ise I fer cent on inch bansactions._

6.. As an experiment and with a view to furnishing your Ländchipe with further information, I have breaty reduced the Seiquanger to I for cent- but nevertheless sut

CO129-120 - Sir MacDonnell - 1867 [1-2] — Page 101

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