CO129-409 - Governor Sir May - 1914 [1-3] — Page 331

329

1.

Report

on an Ordinance entitled An Ordinance to amend the

Foreign Silver and Nickel Coin Ordinance,

1913.

By Section 4 of the Foreign Silver and Nickel Coin Ordinance, 1913 (Ordinance No. 15 of 1913) a penalty is in- posed upon any person importing into the Colony any Foreign Silver or Nickel coin unless such person is the holder of a licence so to do under the hand of the Colonial Secretary.

By Section 6 a penalty is also imposed upon any person found in the Colony in possession of any Foreign Silver or Nickel Coin of an aggregate value of over 50 dollars unless such person is the possessor of a licence granted under the provisions of Section 4 of the Ordinance.

2.

and

^

The Foreign Silver Nickel Coin Ordinance, 1913 comes into operation on the 1st March 1914 but, as the result of careful consideration, it is realized that the sudden immediate enforcement of the penalties against importation into and possession in the Colony of Foreign Silver or Nickel coinage is attended with considerable difficulty and that the object of the Ordinance which is to drive out of circulation this foreign

it is also thought currency can only be accomplished gradually;

that suitable arrangements for the issue of ligences under Sea- tion 4 of the Ordinance of 1913 presents some practical difficulty. 3/- The object of the present Ordinance is to give power

to the Governor-in-Council to suspend temporarily if necessary the operation of Sections 4 and/or 6 of the Principal Ordinance in the hope that by such a temporary suspension the object of

may be effected

the Principal Ordinance, by the enforcement of that part of it

A

which deals with the prohibition against circulation in the

Colony of Foreign Silver and Nickel coin; and it is anticipated

that as with the case of Foreign copper coinage and Foreign Notes

the prohibition against circulation will be effected at within

1

a reasonable period causing the Foreign Silver coinage to disappear from circulation in the Colony without the necessity for the issue of licences and without further action. It is probable however that in any case the importation of Chinese Silver coinage not as a circulating medium but as merely representing its bullion value will continue and against this there is no reason to object as such coins not being placed in circulation simply represent a form of merchandise.

4/-

5/-

Section 1 of the Ordinance is formal.

Section 2 of the Ordinance gives power to the Governor-ins Council by notification published in the Gazette to suspend for such period and in such parts of the Colony as may in the opinion of the Governor-in-Council be desirable the operation of the whole or any part of the provisions of either Sections 4 and/or 6 of the Princi- pal Ordinance.

6/-

In my opinion this is an Ordinance to which His Excellency the Governor may properly assent in the name of His Majesty and on His behalf.

Johna Buchmit

Attorney General.