Most humbly signed Alcminić
on the
Eumenec Ducetia, lozethin
will come
F
the Boles
(on a lepore
reperren to in
Al Memorial.
CILE
I have the hown & R
My Lord,
four Cortchips turut Bedient
Anuth Kvant
davant,
To His Excellency,
John Pope Hennessy, C. M.G,
Lieutenant Governor of Hongkong, and its Dependencies.
The Memorial
of the undersigned Bankers, Merchants, Professional Men, Traders, and other Citizens of Victoria in the Island of Hongkong.
37
WHEREAS ever since the founding of the Colony its currency has been a matter of serious or great inconvenience. One of the chief causes has been the prevailing habit of the Chinese to chop dollars passing through their hands. This has had its origin in the extensive issue of debased and spurious coins in China, and the consequent anxiety to avoid recourse, it being understood that no shop can be called upon to exchange a coin which it may have paid away, upon which the Hong "chop" or stamp is not clearly discernible. The usual practice adopted is to lay the coin upon the stone lintel of the door, or on the street paving stones, and then to strike it with a rough die by a heavy hammer. One "chop" is thus sufficient to destroy the symmetry and beauty of the coin; and when some tens, scores, or hundreds of "chops" have been added, the identification of either "chops" or coins becomes simply impossible. They are reduced to shapeless pieces of mutilated silver. The ideas prevailing elsewhere in favour of a ready recognition of a familiar image and superscription are abandoned, and the work of shroffage or examination of money, for which every one in other countries considers himself qualified, has in this little Island to be relegated to a class of professional shroffs, of whom there are hundreds in this place, and without two or three of whom no staff of any commercial house is deemed to be complete. Serious loss is thus entailed upon those engaged in business, whilst the great difficulty which is constantly experienced in deciding upon the quality of coins leads to incessant feuds between Chinese compradores and shroffs, frequently bringing into collision their employers also.
Your EXCELLENCY is well aware that the best guarantee against forgery and spurious imitation, whether of Bank Notes or Coin, has been found in the popular familiarity based upon simplicity of design and excellence in execution, together with the genuine "ring" so easily recognised. This is rendered impossible by the existing system of defacement; whilst, at the same time, the greatest possible inducement is thus offered to fraudulent imitation.
Those of the Signataries, Bankers, Merchants and others, who, on account of the larger volume of their transactions, are compelled to keep a compradore and a staff of shroffs and collectors, are, in some measure, able to defend themselves, but a far larger number of Professional men, Traders, Shopkeepers, and Artisans, besides a very considerable body of Naval, Military, and Civil Servants, are seriously incommoded by the defaced and mutilated currency which is tendered to them.
WHEREAS it was the extreme dissatisfaction arising from the causes above enumerated which led to the establishment of the Hongkong Mint, fifteen years ago, which, but for some trifling errors in its organization and management, might have continued to the present day.
Your MEMORIALISTS are most unwilling to trouble Your Excellency, thus early in your administration, upon a subject of such intricacy, but they cannot allow the Petition of certain Opium Merchants and others claiming that they represent the Chinese community, to pass unnoticed.
Your MEMORIALISTS believe that these men are not entitled to exceptional consideration, and that great injustice would be inflicted, especially upon Bankers, were they compelled to receive the "chopped” and defaced currency, as at present tendered. Those by whom such coin is paid in to-day, will to-morrow decline to receive it back, demanding that the cheques they bring be paid in notes. It has sometimes happened that the
34 8777
7
minerously signed Alcmnieć
on the
Eumenec Ducetia, lozethin
wik come
F
the Boles
(on a lepore
reperren to in
Al Memorial.
CILE
I have the hown & R
My Lord,
four Cortchips turut Bedient
Anuth Kvant
davant,
To His Excellency,
John Pepe Hornnessy, C. M.G,
Lieutenant Governer of Hengking, and its Dependenoris.
The Memorial
of the undersigned Bankers, Merchants, Professional Men, Traders, and other Citizens of Victoria in the Island of Hongkong.
37
WITEREAS ever since the founding of the Colony its currency has been a matter of serious or stamp the inconvenience. Que of the chief causes has been the prevailing habit of the Chinese to chop dollars passing through their hands. This has had its origin in the extensive issue of debased and spurious coins in China, and the consequent anxiety to avoid recourse, it being understood that no shop can be called upon to exchange a coin which it may have pail away, upon which the Hong "chop" or stamp is not clearly discernible. The usual practice adopted is to lay the coin upon the stone lintel of the door, or on the street paving stones, and then to strike it with a rough die by a heavy hammer. One "chop" is thus sufficient to destroy the symmetry and beauty of the coin; and when some tens, scores, or hundreds of "chops" Lave been added, the identification of either "chops" or coins becomes simply impossible. They are reduced to shapeless pieces of mutilated silver. The ileas prevailing elsewhere in favour of a ready recognition of a familiar inuage and superscription are abandoned, and the work of shroffage or examination of money, for which every one in other countries considers himself qualified, has in this little Island to be relegated to a class of professional shroffs, of whom there are hundreds in this place, and without two or three of whom no staff of any commercial house is deemed to be complete. Serious loss is thus entailed upon those engaged in business, whilst the great difficulty which is constantly experienced in deciding upon the quality of coins leads to incessant feuds between Chinese compradores and shroffs, frequently bringing into collision their employers also.
Your EXCELLENCY is well aware that the best guarantee against forgery and spurious imitation, whether of Bank Notes or Coin, has been found in the popular familiarity based upon simplicity of design and excellence in execution, together with the genuine "ring" so easily recognised. This is rendered impossible by the existing system of defacement; whilst, at the same time, the greatest possible inducement is thus offered to fraudulent imitation.
Those of the Signataries, Baukers, Merchants and others, who, on account of the larger volume of their transactions, are compelled to keep a compradore and a staff of shroffs and collectors, are, in some measure, able to defend themselves, but a far larger number of Professional men, Traders, Shopkeepers, and Artisans, besides a very considerable body of Naval, Military, and Civil Servants, are seriously incomunoded by the defaced and mutilated currency which is tendered to them.
WHEREAS it was the extreme dissatisfaction aring from the canses above enumerated which led to the establishment of the Hongkong Mint, fifteen years ago, which, but for some trifling errors in its organization and management, might have continued to the present day.
Your MEMORIALISTS are most unwilling to trouble Your Excellency, thus early in your administration, upon a subject of such intricacy, but they cannot allow the Petition of certain Opium Merchants and others claiming that they represent the Chinese community, to pass unnoticed.
Your MEMORIALISTS believe that these raon are not entitled to exceptional consideration, and that great injustice would be inflicted, especially upon Bankers, were they compelled to receive the "chopped” and defaced currency, as at present tendered. Those by whom such coin is paid in to-day, will to-morrow decline to receive it back, demanding that the cheques they bring be paid in notes. It has sometimes happened that the
34 8777
7
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