CO129-367 - Acting Governor May - 1910 [6-7] — Page 515

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the Regulations is considered. Apparently it is contemplated

to repudiate the existing small silver coins after a date

९

to be fixed upon. Unless some scheme of redemption is

adopted at any rate for the twenty cent pieces which are

at present the real currency of the Two Kwang Provinces,

an act of very grave injustice will be done, which will

touch the pockets of rich and poor alike and will therefore

be likely to lead to very serious difficulties.

6.

I question whether the Chinese

Government realise that the coinage of standard coins

which is both necessary and desirable, involves expenditure

of about one per centum; and that the establishment of a

good dollar currency with a properly limited sub-coinage

will cost it money instead of producing it.

7.

Lastly I notice that no mention

is made of the Hongkong Subsidiary Coinage in circulation

in China and of how it is proposed to deal with it.

:

This is a point upon which this

would

Government did like information.

8.

I have sent copy of this Despatch

to