- 2.
65
EMS
holdings of silver must be sold for what they will obtain
in the new currency and that stabilisation cannot be
effected at any arbitrary higher figure. The present time
would therefore be a most inopportune one to introduce
stabilisation.
The Committee is inclined to recommend however that
in case China should see her way at some time suddenly to
adopt a gold basis, in order that Hong Kong should be ready
to anticipate that event, all available data should be put before expert opinion and a feasible scheme worked out in
detail whereby the transfer of the Colony's currency from
a silver to a gold basis may be effected as smoothly and
with as little trouble and expense as possible.
No comments yet.
Private notes are available after approval.