The proper function of such coin is merely to supply the small change required by a community and under a sound currency system it will not be allowed to take the place of legal tender money in large transactions. In a community like that of Hong Kong where the danger of over-issue of subsidiary currency is by no means remote, there is special reason for restricting such currency to its proper function, and My Lords would suggest that the Hong Kong and Shanghai Banking Corporation should be invited to substitute dollars or silver bullion for the subsidiary coin at present on deposit with the Colonial Treasurer.
I am,
Sir,
Your obedient servant,
E. Hamilton
DRAFT.
12144 201
I have the honour to inform you that my attention has been drawn to the fact that a certificate of the security deposited by the Hong Kong and Shanghai Banking Corporation in accordance with the provisions of Ordinance 1 of 1899 takes the form of subsidiary currency.
2. In the correspondence which passed between this...
Page 462
...
Page 463
Corrected and formatted version in HTML as requested: Since there are page numbering indications and some OCR errors, here is the corrected output in HTML format as per the instructions:Page 462
The proper function of such coin is merely to supply the small change required by a community and under a sound currency system it will not be allowed to take the place of legal tender money in large transactions. In a community like that of Hong Kong where the danger of over-issue of subsidiary currency is by no means remote, there is special reason for restricting such currency to its proper function, and My Lords would suggest that the Hong Kong and Shanghai Banking Corporation should be invited to substitute dollars or silver bullion for the subsidiary coin at present on deposit with the Colonial Treasurer.
I am,
Sir,
Your obedient servant,
E. Hamilton
DRAFT.
12144 201
Page 463
I have the honour to inform you that my attention has been drawn to the fact that a certificate of the security deposited by the Hong Kong and Shanghai Banking Corporation in accordance with the provisions of Ordinance 1 of 1899 takes the form of subsidiary currency.
2. In the correspondence which passed between this...
However, to fully adhere to the format requested, here is the revised output without the initial explanation:Page 462
The proper function of such coin is merely to supply the small change required by a community and under a sound currency system it will not be allowed to take the place of legal tender money in large transactions. In a community like that of Hong Kong where the danger of over-issue of subsidiary currency is by no means remote, there is special reason for restricting such currency to its proper function, and My Lords would suggest that the Hong Kong and Shanghai Banking Corporation should be invited to substitute dollars or silver bullion for the subsidiary coin at present on deposit with the Colonial Treasurer.
I am,
Sir,
Your obedient servant,
E. Hamilton
DRAFT.
12144 201
...
Page 463
I have the honour to inform you that my attention has been drawn to the fact that a certificate of the security deposited by the Hong Kong and Shanghai Banking Corporation in accordance with the provisions of Ordinance 1 of 1899 takes the form of subsidiary currency.
2. In the correspondence which passed between this...
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462
The proper function of such coin is merely to
supply the small change required by a community and
under a sound currency system it will not be allowed
to take the place of legal tender money in large
transactions. In a community like that of Hong Kong where the danger of over-issue of subsidiary currency
is by no means remote, there is special reason for
restricting such currency to its proper function, and
My Lords would suggest that the Hong Kong and Shanghai
Banking Corporation should be invited to substitute
dollars or silver bullion for the subsidiary coin
at present on deposit with the Colonial Treasurer.
I am
Sir,
Your obedient servant,
Ersthamilton
3
DRAFT.
12144 201
Kay Kay
Garuna Sui H. A. Blak
Governa
A.F.25/4
No.
146
7. Ab.01
Sui
I have the honour
M. Leces 25 70 to infon you
which appears from
41
Your despatch No. 45
سال
that my
attention has been
drawn to the fact that
a fest of the semity
of the 6th February, defosited I the H. Kay:
and subsequent desks,
that
Prote in our memo
book CPI
dfts
Noted
AF.
and Shanghai Banking Conforation in accordance with the provisions of Ondy/ 1 of 1899 takes the form of subsidiary
Corri
2. In the
respondence which passed belieen this
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