TNAG-0765-FCO40-969-Minting-of-coins-for-Hong-Kong-1978 — Page 127

CONFIDENTIAL

(d)

(c)

· 5-

機密

Off-course betting centres, too, were considered to be hoarding a considerable amount of small

coins for the purpose of paying the winners. Some press reports which tended to exaggerate the situation had created some public alarm and many

people tended to store up more small coins. This

started the vicious circle and led to a deterio-

ration of the shortage situation.

Some suggestions to solve the problem

8.

Although the ultimate solution would be the issue of an adequate supply of coins that would meet public needs, many respondents felt that safeguards against delays in the re-circulation process should be introduced. They proposed that there should be regulations requiring public transport companies to deposit their coins at the banks not later than

24 hours after they were collected.

9.

To help ease the demand for small coins for public transport, it was proposed that public transport. companies should re-consider a return to the system of selling tickets or, if they were unwilling to do so, at least to provide exchange scrvices at the major and busy termini. This would not only solve the problem of commuters having to hunt or save up for the exact fares, but would also speed up re- circulation.

10.

Some considered that for the purpose of reducing the psychological fear or anxiety for a shortage of coins, full publicity that adequate supplies were available should be mounted as and when additional stocks had been put into circulation. Banks should also be seen to have an adequate supply of coins so that people would stop further hoarding.

11.

A few proposed the issue of 30-cent coins that could be used for tram trips and buying newspapers. The use of stamps as a substitute was not generally favoured because stamps were not durable and not regarded as legal tender.

X

X

I

X X X X X

/ The

CONFIDENTIAL

機密