CO129-378 - Governor Sir Lugard - 1911 [6-7] — Page 175

CONFIDENTIAL.

nclosure!

Sir,

4 400

GOVERNMENT HOUSE,

HONGKONG, 26th. June, 1911.

172

The Local Auditor has addressed a letter,

of which I attach a copy, to the Colonial Secretary stating that

in his opinion the directions which I have given to the Treasurer

to dispose of the Silver Subsidiary Coins belonging to Govern-

-ment involving a loss to Revenue in consequence of the dis-

-count at which these coins stand in the market, is contrary to

Colonial Regulation 311 and would appear to be contrary to the

policy sanctioned by the Secretary of State. He requests that

your sanction should be obtained.

2.

I will recall briefly to your recollection

the circumstances of this matter. There accrues to the Govern-

-ment in the collection of taxes, sale of stamps &c., annually

a quantity of Subsidiary Silver Coin of the face value of about

eight lakhs, which will probably be increased by the takings

on

THE RIGHT HONOURABLE

LEWIS HARCOURT, M.P..

&C..

&C.,

&C...