CO129-365 - Governor Sir Lugard - 1910 [1-3] — Page 141

136

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semuses bne,danlage bedenimirselb odort oaqt al mioo saentro

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.11

eɗt palasszont of wety a ddiw antos esentɗ) Jentene eisnimito-

I do not hold that the mere rehabilitation of the Hongkong

Coin would oust the Chinese Coins from circulation. To effect

this

in a modified degree, so as not to incur the difficulties

which I described in stating my objections to existing schemes

of prohibition is the problem to be solved. If solved simulta-

-neously with the rehabilitation of our Coinage, the result

would be to establish such a discrimination as would tend to

increase and to maintain the disparity of the values, so that I

conceive that all labourers would demand payment in the higher

value coins, and the Chinese coins would remain (as cowries do

in India) for mall transactions among the very poor, and as a

medium recognised as foreign and inferior. The relation of the

Chinese coins to the standard depends primarily on the issues

made by the Canton Mint. On page 555 of the last issue of the

Imperial Maritime Customs Report it is stated that in 1908 there

were exported to Hongkong and Macao 71,665,900 20 cent pieces

against 15,628,010 imported a balance exported of 56,037,890.

Much of this is probably in transit to Chinese Ports but I

presume that the Mint in order to off load this prodigeous

mehhua arid dadź worse of beirovseäns svari 1

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od ejaraqo tisati mi blow antoð snod~nok to goldandIII Cader

bisa ybaería svari I as 2nd,antos masutɗ0 daniaya aisaİNİTORİb

I

quantity of small coins to Hongkong and Macao enters into

arrangements with Banks under Chinese control and with certain

Chinese financiers. Both the Chinese Members of Council are

opposed to the circulation of Chinese coins here. Mr. Wei Yuk

(who