CO129-365 - Governor Sir Lugard - 1910 [1-3] — Page 142

137

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XUY 197 .TM .erei antoɔ erant:Q to moltsfrotto act of bosoqqo

ofw)

(who is Compradore of a Bank) is even in favour of prohibition,

while Dr. Ho Kai says that the Chinese Bankers and Financiers

recognise the evil and would be glad to see Chinese coinage

ousted, but they dare not break with the Canton Mint, and refuse

its business. Mr. Clementi writes as follows:- "Mr. Stewart

"says that he recently discussed the question of such restrict-

#ion with the Chinese Members of Legislative Council and found

"that they were both in favour of restriction. They told him

that the Chinese Merchants were also in favour of restriction

*and that they were only held back from refusing to accept

"Chinese subcoin by the fear that their action would be reported

*to the Chinese Provincial Authorities, who might retaliate

*against them in Canton and elsewhere. If, however, the Hong-

*-kong Government itself prohibited the use in the Colony of

Chinese subcoin, thesd merchants would have a complete answer

"to any expostulation made by the Officials of the Canton

"Mint". Obviously therefore what they require is some Govern-*

-ment action which would justify them in refusing these con-

-tracts, as on the grounds that they might involve them in

serious loss. I propose that an Ordinance should be enacted

making illegal the possession of a "large quantity" of Chinese Subsidiary Coins for purposes of putting them into circulation,

What shall constitute a *large quantity" may be left for the

Governor-in-Council to fix from time to time by Regulation, or

it