CO129-334 - Governor Nathan - 1906 [5-7] — Page 574

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closure 1.

568

suffered, and Chinese bankers considered that in view of the

manner in which dollars had been replaced by Chinese subsi-

diary coins in the Kwang Provinces there would be no chance

of Hongkong subsidiary coins being required in those pro-

vinces in the near future. The Treasurer recommended that

the bulk of this coin should be reshipped home for sale as

bullion.

3.

Before acting on this recommendation I dis-

cussed the matter with Mr. J. R. M. Smith who thought that

it might be possible te dispose of the coin more advanta-

geously by sale to the Indian mints then buying silver, and

who at my request telegraphed to ascertain if these mints

would buy. On the 28th. May he advised me that the Indian

Government had wired from Simla that they were not prepared

to do this. The telegraphic correspondence with Your Lord-

ship and the Crown Agents, of which enclair versions and

paraphrases are enclosed then took place with the result

that the following subsidiary coins were shipped to London

per S.S. "Preussen" on the 21st. June:-

20 cent pieces

10

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148,000

3,250,000

$3,398,000

leaving in the hands of the Colonial Government

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