It is reported - as is no doubt within the knowledge of His Excellency - to have for some time past had it in contemplation either to alter the standard of the currency, or to restrict the free coinage of silver by "the Indian Mints.
The possible issues involved in either proposal are of the gravest importance to the trade of this Colony, the exchange of commodities between Hongkong and India being of considerable magnitude. Any sudden alteration of the Indian currency could hardly fail to be detrimental to the reciprocal trade of both.
The almost insurmountable difficulties that attend the alteration of a country's currency - the need of hesitating before taking action - perhaps cannot be better illustrated than by reference to the fact that all the many conferences (composed in a measure of men who may be considered experts) which have met to consider the present position of silver, none have, so far, suggested any remedy that has at all met with general approval.
My Committee earnestly beg that His Excellency will be pleased to press upon the authorities at Home the necessity of fully considering the interests of this Colony in any measures that may be proposed with regard to India.
I beg leave to enclose for His Excellency's information a copy of a resolution passed lately by the Singapore Chamber of Commerce.
I have, &c.,
Legge & Henderson, Secretary.
To: Colonial Secretary.
Page 484 appears to be indicated by the number "484" in the original text, but since it doesn't follow the exact format of "Page XX" with three lines at the top and three at the bottom, it is not included in the output. If more context or the exact page numbering format were available, it could be handled accordingly.I
is reported - as is no doubt with in
the knowledge of stis Excellency - to have for some time past had it in contemplation either to alter the Handard of the sur
Be
or Lo
currency, restrict the free comage of silver by
", the Indian Muits.
The possible issues involved
are
८
' in either proposal
of te
gravest
importance to the trade of this iclony, the exchange of commodities between
Hongkong
and India benig of
ihide and
car.
any sudden
siderable magnitude alteration of the sudian curren
currency
could hardly fail to be detrimental
to the reciprocal
cai lerde
of both.
The almost niourmant-
able difficulties that attend the al-
and
teration of a country's currency-o the need of besitating before taking action perhaps cannot be betteril- lustrated than by reference to the - fact
fact
that
of
all the
484
many conse
great
rences / composed in a
of
measure
men who may be considered experts) which have met to consider the present position of silver, nove have, so far, enggested my
dy
that has at all met with
rab approval.
My
дене.
Committee earnestly
beg that His Excellency
will be
piensed to trees upon the authorities at Home the necessity of fully
the interests of this Colony
sidering
i li
avy
measures that may
con.
be
posed with regard to India and
Req
leave to enclose for His Excel. lucy's information a copy of resolution possed lately by the sun.
Chamber of Cominence to
gapore
The
end.
I haves?
ligneal & Henderson, Secretary.
You: Colonial Secretary.
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