CO129-334 - Governor Nathan - 1906 [5-7] — Page 590

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584

Enclosure 3.

Question by Honourable Mr. E. Osborne in the Legislative Council

asted the 2nd. June, 1908.

Will the Government take steps to enquire what practical means can be adopted for re-establishing and maintaining the value of British subsidiary coinage on a par with the dollar.

Reply by the Honourable Colonial Treasurer in the Legislative Council,

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JJSKSH.A Jredtý .te

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The Government have male enquiries and are satisfied that the only practical means that can be adopted for re-establishing the value of British subsidiary coins is to cease for the time to issue such coins and to induce the Cantonese authorities to stop the issue of Chinese subsidiar coins, the over-production of which combinel with depressed trale has brought about the fall in value of both British and Chinese subsidiary

currency.