CO129-365 - Governor Sir Lugard - 1910 [1-3] — Page 129

124

ator bra sje"sqon 8 ba gnof oe eago Ina mi .3mwooalb ent $itened ofs 3mroselh a Ja Batxivorio bus atɛize emantos reirqoq

el antol gnodanof arts to noltadilldalist erit mort exnet and of

.anotdub

III

so triw omarine edr antstnoo diqargataq ebit

-aihindwa ni atallob moltika SI to meol a atstɗo of al teinď al

to aeol a da auton arið bestdenomab ovlay sost je ntoo VI-

randwt tot 000,008,017 to someted eri sau bns 000,008,1)

end to fitorg s exam adusɛ art aɛeno*q skrit mo.

of as flowa sta naoi ads to mænet sit nasimu 3m/ooalb IIT

atsioanqge Jon oh I aretado 1 .ditorg aldið 3avooos otal asiat

eidaulazdo naoi blog a Ivo Canoqorq also to esadneyba ant

edan dasaeng ja sidizmevnon bits),brai¬¬ã mi arriað meinae no

edź nael a dove f:i* .(ærred olds-uovat no aynadOKS TO

10 qu yuď melòngðni æði gnişlovih dvor: 3kw blwoo JKSHITIBVOD

matjanomah od (erada bezogong ea) dneƐ a ddiw staidonan

ent niazdo blow hna,b #ilæeb 3b as mais o2 emis most amus

drwookih ard to (naol and rank ton marija" no) ditong

Bid taxt noldɖpseas sild Sacs Anina Jon oh I

VI

„eldtæsirība el novo að kook blow raq da moldqusbar tot Naut*

t

Llæ žvoriquordó trwonnib ja puišeluonio won actoo gnofṣnok aff?

de bøgnarioxa ad of #Taux xnam tot ni siddich hinow saldo d$102

VI.

to raise the

The assumption is that Hongkong Subsidiary Coins to par value $18,000,000 must be demonetised at a loss of 15% equals $2,700,000.

The comparison with the loss of 184,204

per annum for the last 3 years is I think misleading. That loss

was incurred to redeem large stocks in hand. The x annual

average loss incurred by withdrawing all Subsidiary Coin received in the Treasury is at most 15% on $500,000, viz.:- $75,000. The sum for last year is put at $66,347,

I offer these comments merely as criticisms

of a scheme which is submitted for criticism. Its main prin- -ciple sudden rdemption as apposed to a small withdrawal each year I am fully in agreement with. I concur that the Reserve might to a certain limited extent be used for this purpose and

that under certain circumstances it would be a sound course

to take. I have expressed my own personal views in a special

memorandum which equally invites criticism.

5th. November, 1909,

(Sd.) F. D. Lugard.

184

eunal won a to pilaanoen add seɛ ton ob I

moliqmehet ads asjarinneosa di dółw nigad of Batoo Iedolk to

"atbroose) dołów antoo Lanoialbba "o NdToW ataflob not!IIM ÉL To

inq is notðsíuotinel ni÷max hivow therweas eteri stab ærið oð

nand swad Frinde dolce vðiðnamp Escoltibba na rit iw teridenod

.Quaet Isunca edo not avtoast nt bleri

edit eau of sramitizol 31 Anift ton of I

avaat edom a no ditong and no cham ti sunet as down no strong

.euraat et tantana brust sytonett a ba narit anoqing resido yns TOT

ent oð hef aari rinksiw odżeteket edt deeger oð að satwiodło ob of

.IV