CO129-158 - Sir Kennedy - 1872 [6-8] — Page 218

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed
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Page 207

for leave to issue Notes of the value of One Dollar each, and the application having been referred to the official Members of the Legislative Council, and finding that the proposal met with their support, I laid the matter before Executive Council.

The power of allowing issue of Notes of other amounts than Five Dollars or the multiple of such sum is vested in the Governor by Section XII of Ordinance No. 5 of 1866. The only question, therefore, was as to the expediency of granting the request of the Corporation.

There is no doubt that owing to the practice of chopping dollars which is in vogue here, and in parts of China, the Coins became, after being a short time in circulation, much deteriorated, and lost a portion of their value.

It was hoped that the establishment of a Mint in Hong Kong would have caused such a supply of new Coins, not liable to defacement, to be thrown into the market that "chopped" dollars would in due course have disappeared.

Unfortunately, the closing of that establishment, and the scarcity of the dollars which it coined, leaves matters in status quo, and the Community suffers materially from ...

Page 208

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Page 207 for leave to issue Notes of the value of One Dollar each, and the application having been referred to the official Members of the Legislative Council, and finding that the proposal met with their support, I laid the matter before Executive Council. The power of allowing issue of Notes of other amounts than Five Dollars or the multiple of such sum is vested in the Governor by Section XII of Ordinance No. 5 of 1866. The only question, therefore, was as to the expediency of granting the request of the Corporation. There is no doubt that owing to the practice of chopping dollars which is in vogue here, and in parts of China, the Coins became, after being a short time in circulation, much deteriorated, and lost a portion of their value. It was hoped that the establishment of a Mint in Hong Kong would have caused such a supply of new Coins, not liable to defacement, to be thrown into the market that "chopped" dollars would in due course have disappeared. Unfortunately, the closing of that establishment, and the scarcity of the dollars which it coined, leaves matters in status quo, and the Community suffers materially from ... Page 208
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== 207 کرو for leave to ipue Notes of the value of One Dollar each, and the application having referred to the Mr. official Members of the Legislative Connoit, and finding that the froppal met with their support, I laid the matter before Sxcentive Council. my D.. the The Rower of allowing- isue of Notes of other amounts than Five Dollars of the multiple of such sum is vested in the Governor by Section XII of Gdinance. No 5 of 1866.- The only question, therefore, the was as to experiency of granting the request of the Corporation. 3. There is no doubt that owing to the practice of chopping dollers which is in vogue here, and in parts of China, the Coins became, after being a short time in sirculation, much deteriorated, and lose a fortion of their value.. It was hope that the establishment of a Mint in boughing would have caused such A supply of new Cius, not liable to defacement - to be thrown in the market that "chopped" dotters would in due course have disappeared. 4. Unfortunately, the claing of that brividing, and the fancity of the dollars which it corner, leaves matters in stitu quo, and the Community suffers materially from ....................
2026-05-20 18:14:16 · Baseline
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==

207

کرو

for leave to ipue Notes of the value of One Dollar each, and

the application

having referred

to the Mr. official Members of the Legislative Connoit, and finding that the froppal met with their support, I laid the matter before

Sxcentive Council.

my

D..

the

The Rower of allowing- isue of Notes of other amounts than Five Dollars of the multiple of such sum is vested in the Governor by Section XII of Gdinance. No 5 of 1866.- The only question, therefore,

the

was as to

experiency of granting the request

of the Corporation.

3.

There is no doubt that owing

to the practice of chopping dollers which is in vogue here, and in parts of China, the Coins became, after being a short time in sirculation, much deteriorated, and lose a fortion of their value..

It was

hope

that the establishment of a Mint in boughing would have caused

such

A

supply of new Cius, not liable to defacement - to be thrown

in the market that "chopped" dotters

would in due course

have

disappeared. 4. Unfortunately, the claing of that brividing, and the fancity of the dollars which it corner, leaves

matters in stitu

quo,

and the

Community suffers materially from

....................

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