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found in the Colony, but there is a letter of authority. from the Acting Colonial Secretary to the Chief Manager, dated the 27th June 1872, and a notice in Gazette of 19 October 1872, stating that dollar notes will be received by the Government in payment of taxes.
Royal Bank Charters.--Notes are issued here by the following Chartered Banks:-
Oriental Bank Corporation.
Chartered Mercantile Bank of India, London, and
Chinachoited bank of Lidia Auctiik & China
www.l
Ordinance 5 of 1868, Schedule, Art. 2. By this Ordinance there is a stamp duty payable on notes of "two-thirds per cent. per annum per 100 dollars of the "average value of such notes in circulation."
Imperial Act, 33 & 34 Vict. c. 10." The Coinage Act of 1870." This Act may at any time be applied by Order in Council to Hong Kong. See sections 11 and 19.
There is a provision in the Local Market Ordinance 9 of 1858 (section 18) prohibiting base coin, but as it seems that such is repealed by implication by the later Ordinance 10 of 1865, it has not been thought necessary to include it here.
Coins in circulation :
1. The silver dollar of Mexico.
2. The Hong Kong dollar and half dollar issued
from Her Majesty's Mint.
3. Silver coins issued from Her Majesty's Mint
representing
(1.) One-fifth part of said dollar, and com-
monly called 20 cent piece.
(2.) One-tenth part of said dollar, and com-
monly called 10 cent piece.
(3.) One-twentieth part of said dollar, and commonly called 5 cent piece.
4. Copper or bronze coins also issued from Her
Majesty's Mint:
(1.) One-hundredth part of the said dollar,
and commonly called one cent; and (2.) One-thousandth part of the said dollar, and commonly called mil or cash. $1 Amount of coin in circulation at the end of 1879 estimated at about $2113,668. 2,221,468.
Accounts are kept by the Colonial Government and the merchants in dollars and cents.
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The notes of the following banks in circulation in December 179 were:
1881
Oriental Bank Mercantile Bank
Bank of India, Australia, and China Hong Kong and Shanghai Bank
LABUAN.
No local laws in force.
Coins.
$
466,193 807,133
522,302 649.568
467.970 589.388 2,013,001 71 40, 290
There is no Colonial Ordinance defining what coins are to be considered as legal tender in the Colony.
Gold Coins.
$ ets.
British sovereigns, at the rate of
half
4 S0
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19
2 40
3 60
1 80
0 90
Spanish four dollar piece
>>
two
one
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The above rates were fixed by Government notifica- tion of 26 April 1875.
Silver Coins.
One dollar pieces of Hong Kong, Mexican, Bolivian, Peruvian, American, and Japanese coinages at the rate of 1 dollar; Indian and Dutch rupees, 45 cents.
The small silver coinage of Hong Kong and the Straits Settlements of the value of 20, 10, and 5 cents.
Copper Coins.
The Straits Settlements copper coinage of one cent, one half cent, and one quarter cent pieces at the rate of 100 cents to the dollar.
Amount of coin in circulation not known. Amount of paper currency in circulation not known, but very little.
The accounts are kept in dollars and cents..
LABUAN.
3/79 2460
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