é or Individual.
Treasury
901
April
previous Paper.
No.
Hong Kong
12144
(Subject.)
Note Issue Security,
Shanghai Bank
460
DOMESTIC.
C.O. 12144
*
Rec'd Red 8 Apr. 01
H. K. and
Subsidiary coin cannot be accepted as deposit for dollars.
Bank should be asked to replace it with dollars.
sequent Paper.
Mr. Lucas
(Minutes.)
I left this paper to discuss with Mr. Johnson, and I have also talked it over with Mr. Thomson, the Treasurer of Hong Kong.
In writing to the Treasury, I spoke of the deposit of $4,100,000 in dollars, and $900,000 in subsidiary coin.
This subsidiary coin should have been reckoned at 90% of its nominal value. As Mr. Thomson explained, this was intended as a rough approximation to the bullion value of the subsidiary coin.
(Rough, because instead of reckoning it at 88.88% of its face value, they should strictly have reckoned it...
Treas.
é or Individual.
reasury
901
April
previous Paper.
No.
Hong Kong Над
12144
(Subject.)
Note Issue Security,
Shanghai Bank
460
DOMESTIC.
C.O. 12144
*
Rec d Red 8 Apr. 01
H. K. and
Subsidiary coin cannot be accepted deposit for
as
Bank should be asked
6935 to replace it with dollars.
sequent Paper.
Mr. Lucas
(Minutes.)
I heft this fafer to
M.
discuss with th. Johnson, and I have
also talked it over with Mr. Thomson,
the Treasurer
of Hong Kong.
In writing to the Treasury
Ispoke of the deposit
Qu
$4,100,000 in dollars, and $900,000
9935
in
This,
"
subsidic should have though live:
the subsidiary can
as a
was reckoned at
90% of it nominal value. As M. Thomson explained, this was intended rough af froximation to the bullion value of the subsidiary ci
instead of reckoning it (Rough, becaus Enface
7/90%
qu'% of its face value, they should structly have reckoned it at 88.88.) Of crease the subsiding.com is not legal
Treas.
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