Copies to melis
Land
- Bickie
38. Gove. Conf
Frans 12 copie's time Report off chees
6
28.7.30.
39.7.0.
Asks for return of enclosure to to 36.
DESTROYED UNDER STATUTE
7/9/30
28.8 30
As regarus No. 39, as we have one copy
of the Kemmerer Report in the Department. ? return the copy wonclosure 363 p-n. Eneles & in No.
As to No. 38 I have sent copies of the
Report to r. Vernon and Sir John Campbell. It is
not a very enlightening document. It does not
paint any clear picture of the present situation although there is a fair amount of information
to be obtained fromthe Memoranda which are printed
comist some
with it some cepies of these have already been
submitted at early stages of the correspondence) I have accordingly venture to attempt in the accompanying Lemorandum to describe what appear to be the essentials of the present situation. In brief, the present Hong Kong currency is neither a gold currency nor a silver currency. It
suffers to some extent from the disabilities of
both and the obvious remedy is to put it by some mears
regularly on one or other basis.
The only thing on which the Committee are clear is that they prefer the silver basis to gola,
but even their recommendations to give effect to this
are not very helpful. In any case, I do not think
reasons
their request for preferring silver are by any means
RO
conclusive
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