CO129-340 - Governor Nathan Acting Governor May - 1907 [4-6] — Page 231

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coin in sufficient quantity and to restrain the issue of

subsidiary coin within the limits of business necessity;

such subsidiary coin being legal tender to a certain

amount as is the case in all civilised countries.

77.

I have therefore the honour to

suggest to Your Lordship the desirability of taking steps

to urge upon the Chinese Government its liability in

regard to the fulfilment of that condition of the Mackay

Treaty which refers to the establishment of a proper

currency.

8.

In the meantime this Government

with Your Lordship's approval will take steps by the

gradual withdrawal of its own subsidiary caénage to

ameliorate a situation which has become acute and demands

immediate relief.

&

I have the honour to be,

My Lord,

Your Lordship's most obedient,

humble servant,

-:༧་

Officer Administering the Govern -

-ment.