CO129-399 - Governor Sir May - 1913 [1-2] — Page 61

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consideration the enclosed draft bill, on the lines of Ordinance

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No. 11 of 1912, dealing with the regulation of silver and nickel subsidiary currency and I would suggest that, in view of the afore- -mentioned reasons, you should convey your authority by telegraph for its introduction into Legislative Council, prompt action being desirable and due notice of the change to the public being pro- -vided for by postponement of the operation of the law to the 1st. day of January, 1914, as recommended, unless a continuance of the boycott of the Electric Tramways Company forces the adoption of an earlier date. In such case I would ask your authority by telegraph to curtail the notice. I have included nickel coins as I have just learned that the issue of such by the Canton Mint has already been suggested.

7.

The circulation of notes issued by the Canton Government purporting to be redeemable in the small coinage of that Province is dealt with in my Despatch Confidential of the 27th.

December, 1912.

In the event of your approval of the modified

redemption scheme the establishment of a Government note issue

will require a separate Ordinance and it would probably save time

if your sanction thereto were accompanied by a draft Bill which

could be immediately proceeded with in the Legislative Council,

steps being taken in the meantime by the Crown Agents to procure

the necessary materials so that the scheme might be put into

operation readily and smoothly at and from the date of the coming

into operation of the Ordinance regulating circulation of sub-

-sidiary coins.

I may add that I confidently anticipate that when these legislative proposals have been given effect to they will result in a final, logical and acceptable settlement of the currency question in this Colony so long as the present standard

exists.

At some later date I will address you on the subject of introducing a comprehensive Ordinance to consolidate

and amend (if necessary) the law relating to the currency of the