CO129-365 - Governor Sir Lugard - 1910 [1-3] — Page 111

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the Imperial Edicts relative to currency reform which had

given ground for hope, the reactionary tendency of the

policy in Peking, and the absence of any directing

brain and of any central authority,

allite

tended to destroy

the hopes hitherto entertained of any effective action on

the part of China in the near future. To these unfavourable

conditions on the horizon, two local conditions added

force. In the latter half of 1909 the discount on Sub-

-sidiary Coins again went up, and the new Viceroy of

has

Canton/proved himself much less amenable and friendly than

his predecessor, so that any hope of action on his part

unless by peremptory orders from Peking (where there exist

Joke

5

no authority capable of issuing them) seemed hopeless.

9.

It was therefore not unnatural

that the "Subsidiary Coin Question" which had lain dormant

for a year or so, should be revived at this juncture, and

Fondlosure.

Enclosure 8.

the occasion of the debate on the Annual Estimates furnish-

-ad the desired opportunity. I attach for easy reference

the speeches made on this occasion which refer to this

subject (Hansard

ker, 150, 1

pertinent party). The Assistant Colonial

Secretary, Mr. C. Clementi, on the 9th. October, 1909,

submitted a proposal for my consideration. I attach it

together