CO129-365 - Governor Sir Lugard - 1910 [1-3] — Page 120

115

trutora sɗt mi setoneloltsh 462 shtrong of #astof? tas atlup*

Bidadari uns soʻt bus,.ade (Taed has twoW,88of mort gatsia*

no tuq need and gonezqo edt retta molininqoq eft ni sa8O7ONI*

i"galtoot teqorq a"

edt etsimafao of cha; aut bimbria & quos$a (ta

(6)

otni anog nært stoksiw mloodte anoxanol ed# to exist onet eldadong

* moltoannos etrit NI •yrofoð ad* to duo eratfwazie to makɗo

asw aloodia "noxanol #ISEY VABe to? darid beradermnet od bluesta

art of lagnarX ai aye Lav nett" add to yoneripo editoret ens

.Bukoodua desatɔfo to motaufoxe

etsaitas atanixonqqe na atab o8BNÍ KJIW

20 noiJudirralb tavaeng ent bra non eit to eban sd hives

sild nogu nadewont ad bluoy Ji datɗw akoodia gredunok ents

PURI,IINGA .ders ent no galdiww ve* . .weeber of Jnewwievoð

Învoms and 3silt eldadong visid si tdawodd toeldus side no

shand two no benruder vllanti ed of betosque ad adała dotriw

18V0 BUGɔKS na,anotLIIm US to boodtodisken sår oð æmon bluow

.anolIIlm 8£ to a#nomatic®*

been located, an attempt should be made to enter into an agreem

-ment with such holders to refrain from pressing the Government

for immediate redemption. The terms offered to such holders by

Government might be w

}

(a) a promise of redemption at face value within

a fixed period by instalments, annual or otherwise:

and

(b) payment of interest on unredeemed holdings.

The holders on their part would have to agree to hand over to

the Government the whole of their holding of Hongkong subcoin,

as well as all Hongkong subcoin subsequently from time to time

acquired by them, at face value as a loan bearing a certain

interest and redeemable by a certain date. It is probable that

the large holders would gladly accept these terms, as they

would directly profit by the immediate rehabilitation of the

subcoin, and no doubt a low rate of interest would be secured

by Government, in view of the discount at which these coins now

stand.

III.

tjre uex♪ aşeð montę pe po #somle fywệt IL

II

a tavo bastıqa eð bivoria nkosdum to moždqmeber est midlanoq

novis vna da durevrtevol) to somenİT Mið sæit oa atray to antites

o? .nottarego wild yd beaɛstredím vísvoltes eɗ ton diskm meni?

ni blød tilavau al na uloɔdua zaofŋack dourt es nedw 傻 bro atds

JER

„astmagmoo,adnad vd etwvona eidersblanoo

Accepting provisionally Mr. May's estimate

that the face value of aubcoin which the Government would have

to redeem is about $20,000,000, it is not unlikely that two-

-thirds of that amount would either be in, or come into, the

hands of the large holders, who would thus hand over the

Government subcoin to the face value of $12,000,000. Assuming

that,

need

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