CO129-170 - Sir Kennedy - 1875 [1-3] -- Acting Governor Austin - 1875 [3-6] — Page 688

desideratum to Chinese and they are always good for what they represent

as one of the

I look upon this as one. chief causes for these notes coming. into favour, and in the absence of any local issue of dollar or cash notes, they supply a want which, previous to their issue, was greatly felt.

a

The issue of these one dollar : notes by the Hongkong and Shanghae Ranking Corporation at Hongthong

amounts, I believe to about_ $204,000, and I think I am

safe in saying that almost the whole is absorbed by the chinese either here or at

at Houghong.

679

and that double the amount would be taken if the other Colonial. Banks issued them, I do not profess to know much about_ financial matters, but I ___ venture to state my belief that Arade is facilitated by the speedy circulation of bullion in a portable shape, and that where no means for.

delays,

for that exist great

loss, and inconveniences

result; also that the diffusion

of trade

among

preference to a

the many

to among the

few

in

Capitalists, is the true Commercial

policy, and to foster that, a low and portable measure of value such as