571611-1930-Reply-to-question-by-the-Hon-Mr-J-Owen-Hughes — Page 1

THE HONG KONG GOVERNMENT GAZETTE, MARCH 28, 1930.

131

No. 182. The Honourable Mr. JoпN OWEN HUGHES has given notice of the follow- ing question to be asked at the next meeting of the Legislative Council :-

In view of the serious and continued fall in the price of Silver, and con- sequent effect on exchange, and on the trade of the Colony, will the Govern- ment promptly appoint a local Committee composed of Merchants, Bankers and Exchange Brokers, to study the whole question, or in the alternative obtain the service of a financial expert from Home, or take such other, and if so, what, steps to meet the situation?

to which the following is the reply:--

The Government has appointed a Committee of enquiry, constituted as follows:-

The Honourable The Colonial Treasurer (Mr. C. McI. Messer, O.B.E.),

(Chairman),

The Honourable Mr. R. II. Kotewall, C.M.G., LL.D.,

Mr. M. J. Breen,

Mr. C. G. S. Mackie,

Mr. A. II. Ferguson,

Mr. V. M. Grayburn,

Mr. D. O. Russell,

Mr. C. Champkin,

Mr. T. Megarry (Secretary), Colonial Secretary's Office.

The terms of reference are :

1. Is the present currency the most advantageous for the purposes of

the trade of this Colony?

2. In what respects, if any, is the prescut currency situation in the

Colony unsatisfactory?

3. If the situation is unsatisfactory in what way can it be remedied? 4. Is the premium on notes over silver detrimental to the prosperity

of the Colony? If so can it be controlled and by what means? 5. Is the linking of the currency with silver advantageous to the

Colony? If so can it be more closely linked ?

6. Is it desirable in the interests of the Colony that the value of the dollar be stabilised? If so can any effective steps be taken to that end?

212

COUNCIL CHAMBER,

28th March, 1930.

N. L. SMITH, Deputy Clerk of Councils.

APPOINTMENTS,

&c.

No. 183.-Ilis Excellency the Officer Administering the Government has been pleased to appoint, provisionally, and subject to His Majesty's pleasure, Mr. BENJAMIN DAVID FLEMING BETH to be temporarily an Unofficial Member of the Legislative Council, vice the Honourable Mr. ARTHUR CECH HYNES, resigned, with effect from the 15th March, 1930.

24th March, 1930.