CO129-381 - Governor Sir Lugard - 1911 [11-12] — Page 497

487

C

which I have suggested in my last paragraph, I anticipate that

the loss to the Colony and the dislocation of trade would be

reduced to a minimum,

A

the more so that I have always had

considerable doubt whether the "vast quantities of Hongkong

Subsidiary silver/coins supposed to exist in China, are in fact existent,

or that any very impossibly large quantity would come suddenly

into the Colony. I submit that my suggestions will cause a much

lesser dislocation of trade and loss to Revenue than the alter-

-native proposal of the Lords Comissioners of the Treasury to

do nothing and allow the coins to fall to such a discount that

they will reach or fall below bullion value.

I have the honour to be,

Sir,

Your most obedient,

humble servant,

an

Governor,&c..