This Document is the Property of His Britannic Majesty's Government.] 247
C.O.
CHINA TRADE.
CONFIDENTIAL.
[25130]
No. 1.
20
28605 [July 20.]
SECTION 1.6 AUG 08
(No. 282.) Sir,
Sir J. Jordan to Sir Edward Grey.-(Received July 20.)
Peking, June 23, 1908.
THE inclosed copy of a despatch which I have received from His Majesty's Consulate-General at Canton shows that, prior to the receipt of the instructions which the Wai-wu Pu had, as stated in my despatch No. 210 of the 12th ultimo, promised to send to the Viceroy at Canton, that official had, as the result of pressure exercised at the instance of the Colonial Government, taken measures with the object of reforming the currency conditions obtaining in the district, and had ordered the Mint to restrict the output of subsidiary coins.
At the time of writing the despatch, Mr. Fox was evidently under the impression that the Hong Kong Government would be content to leave the matter in the hands of the Viceroy, but I have since received a despatch from Sir F. Lugard, proposing a reciprocal guarantee on the part of the Chinese authorities and the Hong Kong Government not to issue any further subsidiary coin until the coins already in circulation reach par. This suggestion I have communicated to the Wai-wu Pu in a note, copy of which is inclosed, wherein the views of the Hong Kong Government are fully expressed.
I have, &c.
(Signed)
J. N. JORDAN.
(No. 20.) Sir,
Inclosure 1 in No. 1.
Acting Consul-General Fox to Sir J. Jordan.
Canton, June 5, 1908.
I HAVE the honour to acknowledge the receipt of your despatch No. 22 of the 18th ultimo, transmitting copy of a despatch to the Foreign Office on the subject of the excessive minting of subsidiary coinage at Canton.
There has been a considerable correspondence on this question between the Hong Kong Government, this Consulate-General, and the Viceroy since the early part of this year, and the continued pressure which has been brought to bear upon the Viceroy has, I am glad to state, not been without its effect.
On the 29th April last the Viceroy addressed to Mr. Mansfield a note, copy of which I have the honour to inclose, in which, while taking credit for the initiative, his Excellency announces his intention of taking measures to prevent the continuance of the evil.
At a subsequent interview with the Viceroy's Secretary, Mr. Mansfield was informed that the Mint had been ordered to coin whole dollars and subsidiary coins in the proportion of four-fifths and one-fifth, starting from the 30th April. Further, that if in a few months' time this method had not secured the desired effect, the total cessation of minting small coins would be considered.
Sir F. Lugard, to whom copy of the Viceroy's note was sent, appeared to consider this a satisfactory temporary arrangement, and the matter rests for the moment in abeyance.
I have, &c.
(Signed)
H. H. FOX.
[1844 -1]
This Document is the Property of His Britannic Majesty's Government.] 247
C.0.
CHINA TRADE.
CONFIDENTIAL.
[25130]
No. 1.
20
28605 [July 20.]
SECTION 1.6 AUG 08
(No. 282.) Sir,
Sir J. Jordan to Sir Edward Grey.-(Received July 20.)
Peking, June 23, 1908. THE inclosed copy of a despatch which I have received from His Majesty's Consulate-General at Canton shows that, prior to the receipt of the instructions which the Wai-wu Pu had, as stated in my despatch No. 210 of the 12th ultimo, promised to send to the Viceroy at Canton, that official had, as the result of pressure exercised at the instance of the Colonial Government, taken measures with the object of reforming the currency conditions obtaining in the district, and had ordered the Mint to restrict the output of subsidiary coins.
At the time of writing the despatch, Mr. Fox was evidently under the impression that the Hong Kong Government would be content to leave the matter in the hands of the Viceroy, but I have since received a despatch from Sir F. Lugard, proposing a reciprocal guarantee on the part of the Chinese authorities and the Hong Kong Govern- ment not to issue any further subsidiary coin until the coins already in circulation reach par. This suggestion I have communicated to the Wai-wu Pu in a note, copy of which is inclosed, wherein the views of the Hong Kong Government are fully expressed.
I bave, &c.
(Signed)
J. N. JORDAN.
(No. 20.) Sir,
Inclosure 1 in No. 1.
Acting Consul-General Fox to Sir J. Jordan.
Canton, June 5, 1908. I HAVE the honcur to acknowledge the receipt of your despatch No, 22 of the 18th ultimo, transmitting copy of a despatch to the Foreign Office on the subject of the excessive minting of subsidiary coinage at Canton.
There has been a considerable correspondence on this question between the Hong Kong Government, this Consulate-General, and the Viceroy since the early part of this year, and the continued pressure which has been brought to bear upon the Viceroy has, I am glad to state, not been without its effect.
On the 29th April last the Viceroy addressed to Mr. Mansfield a note, copy of which I have the honour to inclose, in which, while taking credit for the initiative, his Excel- lency announces his intention of taking measures to prevent the continuance of the evil.
At a subsequent interview with the Viceroy's Secretary, Mr. Mansfield was informed that the Mint had been ordered to coin whole dollars and subsidiary coins in the propor- tion of four-fifths and one-fifth, starting from the 30th April. Further, that if in a few months' time this method bad not secured the desired effect, the total cessation of minting small coins would be considered.
Sir F. Lugard, to whom copy of the Viceroy's note was sent, appeared to consider this a satisfactory temporary arrangement, and the matter rests for the moment in abeyance.
I have, &c.
(Signed)
H. H. FOX.
[1844 -1]
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