CO129-400 - Governor Sir May - 1913 [3-4] — Page 514

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Enclosure

507

SATIRTISVC !

t

A NAPOCA W BY M. 1

BANNE COAT (onk Juandre noseluas w.& nuit de mid

and 3 bura LIRA MADA

02

m yet wéwda o noqo lieu od te bog, cu

d noi,ngu To pantry and spirooni.. ni Mound ans on

QO'L PIVE bei sutia.. les deu nguosti o

.2 (. a)

IVI Tedeco⠀

Extract from Tsun Wan Yat Po, Hongkong, 11th. April, 1913.

Further endeavour to restore the face value of Canton Notes.

During the last two days the value of Canton Notes in the

market has suddenly risen to 90% of their face value. In purchase

of articles they are accepted at something more than 91% of their

original value, and in payment of the cost of goods ordered from

foreign merchants in Hongkong they can be tendered at the rate of

90% of their face value. Now the Governor, desiring to avail him- -self of the opportunity to promote the note currency, has special- -ly directed the Commissioner of Finance to send deputies to proceed to Hongkong without delay to discuss with the various Hongkong

merchants with a view to the restoration of the face value of

Canton notes. The Government will be responsible for any loss the

merchants may sustain in the undertaking, and after the arrival

in Canton of the full amount of loan recently raised from the United States, new notes will be issued to redeem all the present notes the Hongkong merchants may have collected in hand. By means

of this endless benefits will be rendered to the market in the

shortest duration. Further the Commissioner of Finance has request- -ed Li Yuk Tong the ex-Commissioner of Finance to proceed to Canton to discuss the various necessary measures.