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119
3.
In March last the Viceroy's predecessor
prohibited the manufacture of subsidiary coins by the Canton
Mint for a period of 3 months, and I understand that since that
date subsidiary coins have not been issued by the Treasury at
Canton. The effect of this action is also apparent by the fall
in the discount of Cantonese subsidiary coins in almost the same
proportion as in the case of the Hongkong coins.
4
The stocks of subsidiary coin issued by the
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two Governments are, however, so great that the steps that have
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been taken must be continued for some years before the coins
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again reach par; and thereafter it is necessary that future
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manufacture and issue should be strictly regulated in order that
the coinage may be maintained at par.
This Government is prepared to give a pledge
that it will not again manufacture or issue subsidiary coin till
parity is reached and that thereafter it will regulate its
va dnsraqqs abar thaeris et ae18897 969ir to tastte wil
VÍTASH MOY? anlo) visintedu? qnodaroff to muoseth mi fist odr
manufacture and issue so that parity may be maintained. But it
is obvious that as long as Cantonese coins are allowed to
circulate in the Colony the effect of such restriction by the
Hongkong Government will be neutralised unless the Provincial
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Authorities impose similar restrictions; and I am, therefore, to
ask you to urge the Viceroy to co-operate towards the object
in view, which I have no doubt he desires equally with this
Government
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