CONFIDENTIAL.
Hongkong.
My Lord,
C.O. 30549
RECEIVED (26 AUG 07)
Government House,
Hongkong, 25th July, 1907.
19659
I have the honour to acknowledge the receipt of Your Lordship's Confidential Despatch of the 18th ultimo, and to note your approval of the action proposed in the matter of redeeming the surplus issue of Subsidiary Coin.
2. As regards the period of 50 years mentioned in the 2nd paragraph, which is a very outside estimate, it is not anticipated that the matter of bringing the coins in circulation up to par value would take so long, since in the meantime the usual wear and tear and loss of coins are going on, and the proper demand may in the meantime increase.
3. At the same time, I think it desirable that this Government should be authorised to purchase from time to time from the Bank at the rate of discount of the day sums in subsidiary coin not to exceed ...
THE RIGHT HONOURABLE
THE EARL OF ELGIN, K.G.,
...
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CONFIDENTIAL.
Hongkong.
My Lord,
C. o.
30549
RECE
( 26 AUG 07 Government House,
183
Hongkong, 25th. July, 1907.
19659
I have the honour to acknowledge
the receipt of Your Lordship's Confidential Despatch of
the 18th. ultimo, and to note your approval of the action
proposed in the matter of redeeming the surplus issue of
Subsidiary Coin.
2.
As regards the period of 50 years
mentioned in the 2nd. paragraph which is a very outside
estimate, it is not anticipated that the matter of bringing
the coins in circulation up to par value would take so
long since in the meantime the usual wear and tear and
loss of coins are going on, and the proper demand may in
the meantime increase.
3.
At the same time I think it
desirable that this Government should be authorised to
purchase from time to time from the Bank at the rate of
discount of the day suns in subsidiary coin not to exceed
a
HE RIGHT HONOURABLE
THE EARL OF ELGIN, K.G.,
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