CO129-316 - Governor Sir Blake - 1903 [1-4] — Page 561

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spite of this Experts in England might be led to

believe that the sooner British trade was re-

-duced to a gold standard the sooner would this

desirable change be brought about. The Commis-

-simers might thus come to the conclusion that

each British Colony which adopted gold, dròve

another nail into the coffin of silver, and they

also without fully realizing the realt their

decision might have on the temporary prosperity

of Hongkong, advocate the adoption of a gold

standard as part of the larger scheme of a uni-

-versal gold currency.

This argument was specially urged by the

writer at a private meeting of the Committee

of the Chamber and was subsequently referred to

by the Chairman in his closing speech at the

meeting of the members of the Hongkong Chamber

of Commerce.

1.

Before proceeding to the consideration of

the various arguments for and against a change

in our currency as laid before the Chamber by

the various speakers, it would perhaps be as

well to briefly state the changes posa ble.

Entire adoption of a gold currency

throughout the Colony. Gold or gold

certificates

to shillings and pence -

take the place of existing dollar notes,

dollars, subsidiary coinage, and cash,

accompanied by demonetization of all exist-

-ing currency. In fact a simple adoption

of English Coinage.

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