in 4244/1906.
6053
Colonial Secretary Hong Kong to Crown Agents.
C.0.
20045
Colonial Secretary's uffice?
B: 2 JUN 08
rong Kong.
24th September 1907.
Gentlemen,
In accordance with instructions from the Secretary
of State on the subject of subsidiary coinage, i am directed to inform you that the stock collected by Government which it is intended to sell on withdrawal from circulation will, it is expected,, amount to the nominal value of $340,000 at the end of October next, and that you may expect to receive telegraphic instructions as to the exact amount to be sold gome time during that month.
2. The amount in the telegram will represent the face value of the coinage, the bullion value being ascer- tained by reference to his Majesty's urder in Council of the 2nd February 1895, regulating the currency of this Colony.
3. The loss on wear and tear of the coinage has been estimated by experiment to amount to about 0.457 per centum.
4. The Secretary of State in his despatch of June 18th suggested that you should be consulted as to the best means of the disposal of these coins since it was possible that you might be able to deal with them more advantageously than by moving them to London. I shall be obliged therefore if you will inform me at the earliest possible opportunity to what destination the coins should be sent.
5. there will be no necessity for you to keep a special account provided that the sums involved are duly entered and properly designated in the General Account of the Colony, and you may expect some time after sale to be in- formed that you have been drawn upon for funds by bills payable at three days sight.
1 am &c.
'(sd.) H. May,
Colonial Secretary.
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