CO129-354 - Public Offices & Others - 1908 — Page 112

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed

C 0.

23697

111

! JUL 08

Banks. If the legal currency of the Colony in Notes and coin is sufficient for the needs of the community, it should be a difficult matter for the unauthorised Notes to gain a permanent place in the circulation. So long as the people of the Colony are actuated by ordinary motives, there appears to be no sufficient reason why they should abandon the legal currency in favour of Notes which are not recognised by the Government and for which no certain and convenient means of securing repayment exist.

My Lords have been unable to obtain from the Chartered Bank or the Hong Kong and Shanghai Banking Corporation in London any information which would show that the Canton Notes are in circulation to such an extent as would seriously affect their interests. In these circumstances My Lords are disposed to doubt the need for any special measures of repression. If, however, the Governor remains of a different opinion, They will be glad to be furnished with fuller information as to the extent of the circulation of the unauthorised Notes, and as to the means by which they are supposed to be kept in circulation in defiance of normal usage.

I am,

Sir,

Your obedient Servant,

6. Blain

CRD

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C 0. 23697 111 ! JUL 08 Banks. If the legal currency of the Colony in Notes and coin is sufficient for the needs of the community, it should be a difficult matter for the unauthorised Notes to gain a permanent place in the circulation. So long as the people of the Colony are actuated by ordinary motives, there appears to be no sufficient reason why they should abandon the legal currency in favour of Notes which are not recognised by the Government and for which no certain and convenient means of securing repayment exist. My Lords have been unable to obtain from the Chartered Bank or the Hong Kong and Shanghai Banking Corporation in London any information which would show that the Canton Notes are in circulation to such an extent as would seriously affect their interests. In these circumstances My Lords are disposed to doubt the need for any special measures of repression. If, however, the Governor remains of a different opinion, They will be glad to be furnished with fuller information as to the extent of the circulation of the unauthorised Notes, and as to the means by which they are supposed to be kept in circulation in defiance of normal usage. I am, Sir, Your obedient Servant, 6. Blain CRD E

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C 0. 23697 111 ! JUL 08 Banks. If the legal currency of the Colony in Notes and coin is sufficient for the needs of the community, it should be a difficult matter for the unauthorised Notes to gain a permanent place in the circulation. So long as the people of the Colony are actuated by ordinary motives, there appears to be no sufficient reason why they should abandon the legal currency in favour of Notes which are not recognised by the Government and for which no certain and convenient means of securing repayment exist. My Lords have been unable to obtain from the Chartered Bank or the Hong Kong and Shanghai Banking Corporation in London any information which would shew that the Canton Notes are in circulation to such an extent as would seriously affect their interests. In these circumstances My Lords are disposed to doubt the need for any special measures of repression. If, however, the Governor remains of a different opinion, They will be glad to be furnished with fuller information as to the extent of the circulation of the unauthorised Notes, and as to the means by which they are supposed to be kept in circula- tion in defiance of normal usage. I am, Sir, Your obedient Servant, 6. Blain CRD E

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C 0.

23697

111

! JUL 08

My Lords have been unable to obtain from the Chartered Bank or the Hong Kong and Shanghai Banking Corporation in London any information which would shew that the Canton Notes are in circulation to such an extent

as would seriously affect their interests. In these circumstances My Lords are disposed to doubt the need for any special measures of repression. If, however, the Governor remains of a different opinion, They will be glad to be furnished with fuller information as to the extent

of the circulation of the unauthorised Notes, and as to

the means by which they are supposed to be kept in circula- tion in defiance of normal usage.

I am,

Sir,

Your obedient Servant,

6. Blain

CRD

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