CO129-316 - Governor Sir Blake - 1903 [1-4] — Page 630

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An inconvertible paper currency is not to the thought of under those

circumstances; it would assuredly lead to financial troubles.

With regard to the actual question of appointing a

Commission of Inquiry into the currency of Hongkong the only point, to my mind, for

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decision is Gold or Silver and as I am firmly convinced that the adoption of a Gold Standard here while free Silver remains the currency of China would prove disastrous to the prosperity, and put a seal on the expansion of the Colony, I see no reason for the appointment of any such Commission. It would have a most unsettling effect on trade for the time being, and introduce a speculative element which is undesirable.

Educleich

Hongkong, 26th March, 1903.

.nisjaisa

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