CO129-335 - Governor Nathan - 1906 [8-10] — Page 225

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ONFIDENTIAL.

Hongkong.

My Lord,

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REC

CO

38927

pr 22 001 06

Government House,

221

Hongkong, 20th.September, 1906,

sember, 1906.

In continuation of my Confidential

Despatch of the 3rd. August on the subject of discount on

British and Chinese Subsidiary Coins, I have the honour to

enclose for Your Lordship's information a copy of a letter

dated the 12th. instant which I have received from His

Britannic Majesty's Consul-General at Canton.

2.

From this letter it would appear

that minting at the rate of 1,500 Taels a day or of some

$600,000 to $700,000 worth a year is still proceeding at

Canton. Though this amount is small according to the

scale of recent operations it will when issued, and of

course it will ultimately be issued, retard the rehabilita-

-tion of both the Chinese and British Subsidiary Coins. At

present the former are at a discount of 64% compared to a

discount of 71⁄2 to 71% on the 23rd. July last while the

latter are at a discount of 6% compared to one of 6 to

he Right Honourable

The Earl of Elgin, K.G.,

&C. 1

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