CO129-346 - Governor Sir Lugard - 1908 [1-3] — Page 121

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a 6.

Sir,

Enclosure 3.

113

Government House,

Hongkong, 28th. January, 1908.

With reference to your letter No. 118 of the

24th. of July last and to previous correspondence in which this

Government sought to come to an agreement with the Viceroy of

the Two Kwang with a view to the restriction of the manufacture

and issue to circulation of subsidiary coins by the Mint and

Treasury at Canton on the one part and by the Hongkong Govern-

-ment on the other, I have the honour to request you to again

address the Viceroy on the subject.

2.

When doing so it will be well to remind the

Viceroy that this Government, in order to rehabilitate its

subsidiary coinage, has not only discontinued the manufacture

and issue of new coins but has at considerable expense sold as

bullion the stocks of subsidiary coins in the Treasury; and is

collecting the subsidiary coins paid into the Treasury monthly as revenue with a view to sale as bullion as opportunity may

offer. The effect of these measures is already made apparent by

the fall in discount of Hongkong Subsidiary Coins from nearly

10 per centum to nearly 4 per centum.

nic Majesty's Consul-General,

CANTÓN.

3.