CO129-265 - Public Offices & Others - 1894 — Page 526

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My Lord Marquis,

CHINA ASSOCIATION,

REC

P: 29 MAY J4)

31, Lombard Street,

21th.May, 1894.

PRINTED FOR USE►

EASTERN

No.

62

COLONIAL

OFFICE

The Committee of the China Association trust

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that the urgency of the question and the importance of the

interests involved will be held a sufficient excuse for re-

-curring to the project of a British dollar, regarding which

they had the honour of addressing your Lordship on the 15th.

March last, and which you were good enough to say was then re-

-ceiving your attention.

The stringency of the situation has considerably in-

-creased, in liong Kong, since that date; Mexican dollars having

reached a premium of 5%, at which they are scarce and diffı-

-cult to procure. Some relief has been obtained by the

consignment of dollars from Singapore (where they are replaced,

doubtless by the yên) in response to the premium offered.

卷

But that source of supply can only be temporary; while the

export period for Chinese produce is approaching, when the

need for currency will be more active, so that a degree of

inconvenience not free from danger, may be expected to arise.

The difficulties placed in the way of our trade with

silver-using countries, by the divergence in value between the precious metals resulting from the persigtent disqualification of silver, seem to preclude any likelihood of relief from a revived importation of Mexican dollars i exchange for English

THE RIGHT HON. THE MARQUIS OF RIPON

K.G.,

e Colonies,

II.M.Secretary of State for:

10.

20.