CO129-365 - Governor Sir Lugard - 1910 [1-3] — Page 104

NFIDENTIA L.

Hongkong.

99 A

/C O

5116

acce

My Lord,

Rec 19 FEB 10,

Government House,

Hongkong, 20th January,1910.

I have the honour to acknowledge

3427259

receipt of your Confidential Despatch of October 22nd.,

1909, enclosing correspondence with the Right Honourable

?

Sir C. C. Smith, and directing me to submit a report on

the present position in regard to Subsidiary Coinage in

this Colony.

2.

It may be of use to recall to

Your Lordship's memory the origin and nature of the

problem which has arisen in Hongkong in reference to the

Subsidiary Silver Coinage, before reviewing the present

position, and submitting as I propose to do, certain

recommendations in the matter. For 23 years prior to 1906

there had been a large import into Hongkong of Subsidiary

Coins (I deal in this Despatch with Silver only) from which

a considerable profit accrued aggregating in the 10 years

prior to 1906 to the sum of $1,324,970. This profit was'

absorbed

RIGHT HONOURABLE

THE EARL OF CREWE, >

800 + *

&C...

&C + 1