CO129-308 - Public Offices - 1901 — Page 468

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed
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subsidiary comi..

3. The proper function of subsidiary com... is merely to supply the small change required by a community, and under a sound system it is not likely to take the place of legal tender in any large transaction. You are aware that by the Schedule 3 of the Order in Council of the 2nd February, 1895, the limit of tender for silver subsidiary coin was fixed at two dollars.

Department and the Treasury have concurred in this respect, a copy of which was despatched and forwarded in my No. 184 of the 22nd July, 1898, it was arranged that the excess should be secured by the deposit of dollars to the full amount of the issue. [Ord 4/1 of 1899] in which this arrangement was embodied.

trades merely for the "deposit of coin or bullion" but I am advised that (the Hong Kong Coinage Order, 1899) "Coin" should be interpreted to mean "full legal tender coin" (such as would be available for redeeming the notes of the Bank), and not to include subsidiary coin.

4. It has not escaped my observation that for the purpose of estimating this security the value of subsidiary coin is reckoned at 90 per cent of its face value.

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to 463 subsidiary comi.. 3. The proper function of subsidiary com... is merely to supply the small change required by a community, and under a sound system it is not likely to take the place of legal tender in any large transaction. You are aware that by the Schedule 3 of the Order in Council of the 2nd February, 1895, the limit of tender for silver subsidiary coin was fixed at two dollars. Department and the Treasury have concurred in this respect, a copy of which was despatched and forwarded in my No. 184 of the 22nd July, 1898, it was arranged that the excess should be secured by the deposit of dollars to the full amount of the issue. [Ord 4/1 of 1899] in which this arrangement was embodied. trades merely for the "deposit of coin or bullion" but I am advised that (the Hong Kong Coinage Order, 1899) "Coin" should be interpreted to mean "full legal tender coin" (such as would be available for redeeming the notes of the Bank), and not to include subsidiary coin. 4. It has not escaped my observation that for the purpose of estimating this security the value of subsidiary coin is reckoned at 90 per cent of its face value.
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to 463 subsidiary comi.. 3. The proper function of subsidiary com is menty to ruffly merely the small change requnid by a community, and und a sound system it is not allergy to take the place ofbel tender laye an awere transaction. You that by the moreover, Schedule 3 of the Order in Concil of the 2nd Camiel Band Felmay, Febuary, 1895, The limit oftender for silver subsidiary schou come in fixed at two dollars: Defartment and the Treasury on this reljict, acoby ofwhich was desfatch forwarded in my No. 184 of the 22nd July, 1898, it was arranged that the exces should be secured by the defait of dollars to the full amount of the imie. [Ond 4/1 of issie should 18991 in which this arrangement wesembodied trides merely for the "defort of "com or bullion but I a の adusid that I am are an an that (the Hong Kong " Comniage order, 489 "Coin" should binterfuted to mean "full legal tender can" (such as would be available for redeeming the notes of the Bank), and not to miclude 4. It has not escafed my observation that for the purpose of estimating this security the defisit A subsidiary com is reckoned auf at 90 fer cent of its face
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to

463

subsidiary comi..

3. The proper function of subsidiary com

is menty to ruffly

merely the small change requnid by a community, and

und

a sound

system it is not allergy to take the place ofbel

tender

laye

an awere

transaction. You

that by the

moreover,

Schedule 3 of the Order in Concil of the

2nd

Camiel

Band Felmay,

Febuary, 1895,

The limit oftender for

silver

subsidiary schou come in fixed at two dollars:

Defartment and the Treasury

on this reljict, acoby ofwhich

was

desfatch

forwarded in my No. 184 of the 22nd July, 1898, it was

arranged that the exces should be secured by the defait of dollars to the full amount of the imie. [Ond 4/1 of

issie should

18991

in which this

arrangement

wesembodied

trides merely for the

"defort of "com or bullion

but I a

の

adusid that

I am

are an an

that

(the Hong Kong

"

Comniage

order, 489

"Coin" should binterfuted to mean "full legal tender can" (such as would be available for redeeming the notes of the Bank),

and not to miclude

4. It has not

escafed

my

observation that

for the purpose of

estimating this security the

defisit A subsidiary com

is reckoned auf

at

90 fer cent of its face

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