CO129-340 - Governor Nathan Acting Governor May - 1907 [4-6] — Page 223

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed
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219

will flow back to Hongkong.

3.

With a total issue of over $40,000,000 worth and with the Colony's population under 400,000 it is obvious that there has been issued a great excess over legitimate requirements; though so long as our subsidiary coin was practically favoured as currency in the Provinces of South China no evil effects resulted.

Now, however, with the enormous issue of small silver coins from the Canton and other Mints our coin is being displaced in China.

It is considered that a sum of about 15 lakhs of dollars of subsidiary coins would be ample for the requirements of the Colony's business for a period of years, and that an issue of under $100,000 per annum would be quite sufficient to provide for deficiencies in the amount arising from loss, wear and tear &c., and for any probable increase in the population, after the currency has been put on a proper footing.

4.

It is therefore highly probable that, allowing for a great diminution in the total amount already issued (on account of loss, wear and tear, conversion into ornaments &c.) the amount which might be expected

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219 will flow back to Hongkong. 3. With a total issue of over $40,000,000 worth and with the Colony's population under 400,000 it is obvious that there has been issued a great excess over legitimate requirements; though so long as our subsidiary coin was practically favoured as currency in the Provinces of South China no evil effects resulted. Now, however, with the enormous issue of small silver coins from the Canton and other Mints our coin is being displaced in China. It is considered that a sum of about 15 lakhs of dollars of subsidiary coins would be ample for the requirements of the Colony's business for a period of years, and that an issue of under $100,000 per annum would be quite sufficient to provide for deficiencies in the amount arising from loss, wear and tear &c., and for any probable increase in the population, after the currency has been put on a proper footing. 4. It is therefore highly probable that, allowing for a great diminution in the total amount already issued (on account of loss, wear and tear, conversion into ornaments &c.) the amount which might be expected
Baseline (Original)
* 219 will flow back to Hongkong. 3. With a total issue of over $40,000,000 worth and with the Colony's population under 400,000 it is obvious that there has been issued a great excess over legitimate requirements; though so long as our subsidiary coin was practically favoured as currency in the Provinces of South China no evgil effects resulted. Now, however, with the enormous issue of small silver coins from the Canton and other Mints our coin is being displaced in China. It is considered that a sum of about 15 lakhs of dollars of subsidiary coins would be ample for the requirements of the Colony's business for a period of years, and that an issue of under $100,000 per annum would be quite sufficient to provide for deficiencies in the amount arising from loss, wear and tear &c., and for any probable increase in the population, after the currency has been put on a proper footing. 4. It is therefore highly probable that, allowing for a great diminution in the total amount already issued (on account of loss, wear and tear, conver- -sion into ornaments &c.) the amount which might be expect- -ed
2026-06-04 08:02:06 · Baseline
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*

219

will flow back to Hongkong.

3.

With a total issue of over

$40,000,000 worth and with the Colony's population under

400,000 it is obvious that there has been issued a great

excess over legitimate requirements; though so long as our

subsidiary coin was practically favoured as currency in the

Provinces of South China no evgil effects resulted.

Now, however, with the enormous

issue of small silver coins from the Canton and other

Mints our coin is being displaced in China.

It is considered that a sum of

about 15 lakhs of dollars of subsidiary coins would be

ample for the requirements of the Colony's business for a

period of years, and that an issue of under $100,000 per

annum would be quite sufficient to provide for deficiencies

in the amount arising from loss, wear and tear &c., and for

any probable increase in the population, after the

currency has been put on a proper footing.

4.

It is therefore highly probable

that, allowing for a great diminution in the total amount

already issued (on account of loss, wear and tear, conver-

-sion into ornaments &c.) the amount which might be expect-

-ed

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