CO129-167 - Sir Kennedy - 1874 [1-8] — Page 174

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The Daily

Daily Press.

HONGKONG, MARCH 7TH, 1874.

THE memorial which has been drawn up in favour of the continuance of the One Dollar Note has been so largely signed, that there can be uo doubt of the very general fueling which is felt among the community as to the inconvenience which would result from the measure contemplated by the Home Govern- ment, and we make no doubt that it will have the effect of inducing them to allow the notes to continuo in circulation. It will be noticed from the memoraudum which accom- panied the memorial that the SECRETARY OF STATE impliedly expresses an opinion that the notes might be allowed to continue in circulation, if their withdrawal should be at- tended with any very serious inconvenience to the public. That a great amount of in- convenience will be experienced by the public should the notes be withdrawn cannot possibly be doubted. In point of fact, no measure bus proved more advantageous to the Colony than the introduction ofthe dollar note as a means of doing away, to a great extent, with the great annoyance resulting from the system of chop- ping dollars. To this, prominent attention.was drawn at the last meeting of the Chamber of Commerce; and so long as the Colony is not possessed of a clean currency, the one dollar notes will be of the greatest value, and, in point of fact, form the only portable carrcocy in the place. Even if a clean dollar should, in the couree of time he obtainable, the dollar note will still be a great conveniences on account of the unwieldy nature of any dol. lar such as would be likely to be current here, which must be something after the size and value of the established Mexicau. As we we have already shown, when alluding to this subject, the reasons which would apply at home against dollar notes, either do not ap ply here at all, or are much modified by the peculiar circumstances of the place; and we trust, therefore, that in face of these facts, and the strong desire on the part of the public for the continuance of the one dollar notes, the Home Government will not adhere to its intention to withdraw the permission to issue them.

THE

HONG KONG TIMES.

HONG KONG, SATURDAY, MARCH 7, 1874.

ONE DOLLAR NOTES.

In another column will be found a copy of a memorial and accompanying memorandura on the subject of one dollar notes about to he presented to the Governor of the Colony. A despatch from the Secretary of State instructs His Excellency to order the withdrawal of the notes and prevent any further issue "unless serious public inconvenience would result from such a course." We think the memorialists make ont a strong case in favour of the continuance of the notes. Such notes may not, generally speak- ing, be a desirable currency; yet special and peculiar circumstances may justify their local issue. And no one will deny that such cir cumstances now exist at Hong Kong. The notes have been found of great convenience and advantage to all classes, preventing a somewhat heavy loss to persons ill-able to bear it; at any rate, until we have an improved and settled currency, we trust they may be continued. Local opinion is almost unaui- inous in their favour. A Memorial so uwner- ously and influentially signed must carry considerable weight; and will, no doubt, receive most careful and attentive official consideration.

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