CO129-316 - Governor Sir Blake - 1903 [1-4] — Page 555

CORY.

Enclosure No. 1 to Despatch No. 174 of

2nd. April, 1908.

1t

541 592

Hongkong General Chamber of Commerce, Hongkong, 28th. February, 1903.

sir,

Bonourable

I am directed to inform you for the in-

formation of His Excellency the Governor, that in November last the Singapore Chamber of Commerce addressed this Chamber, draw-

ing attention to the steps taken by that Chamber with the

object of investigating and considering the possibility of arriving at some method by which the fixing of exchange between Gold and Silver in Singapore and the Straits Settlements might be solved, and asking for this Chamber's view as to the advisa- bility of taking any action in the same direction with regard

to the currency of Hongkong.

At a meeting of the Committee specially

called to discuss this matter, held on the 23rd. December last,

it was decided to reply that, although they greatly appreciated

the friendly desire for joint action, the Committee regretted that, by reason of the very different position occupied by the two Colonies, they were unable to see their way, whilst China still retains a Silver Currency, to take any steps which might

tend to lead the Government to adopt another Standard.

Since the expression of opinion by the

Committee, a requisition from five members was received calling for a Special General Meeting of the Members of the Chamber,

for the purpose of discussing the question of local currency, and this Meeting of Members was held on the 18th, instant when

the following Resolution was carried by a majority.

F. H. May, C.M.G., Colonial Secretary.

"That