CO129-365 - Governor Sir Lugard - 1910 [1-3] — Page 163

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Peking, November 17, 1909.

158

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KONONON

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10.

Sir,

You will have observed from the Wai Wu Pu's Memorandum

of February 23, enclosed in my despatch No.142 of April 1 last, that I had approached the Chinese Government at the request of

the Governor of Hongkong who was anxious to learn whether any steps were being taken to restrict the output of subsidiary coinage by the provincial mint at Canton.

I now have the honour to transmit to you herewith copy of a memorandum which I have addressed to the Wai Wu Pu

on the same subject, on receipt of a despatch from Sir Frederick Lugard in which, after pointing out the harm caused to commercial interests in the Colony by the depreciation of the Chinese subsidiary coinage, he suggests as a means for controlling the output of the provincial mints, the prohibition of the issue, of coins now circulating at a discount, the mints to be only permitted to issue new currency whenever any particular coin

shall have reached par value.

This auggestion seems to me of some sit value, and I

have therefore recommended it to the Chinese Government for

their favourable consideration.

I have eto,

(sd) J.N.Jordan.

The Right Honourable,

Sir Edward Grey, Bart., M.P.,

&C.

&0.. &C.