CHAMBER OF COMMERCE
(Continuation).
At the outset the Chamber approached the authorities for a reform of the monetary system, and the standardisation eventually brought about can be directly attributed to these efforts.
In 1862 the Chamber moved to offices in the premises of a firm known as Marsh and Boyers, and continued there for some time. That same year an important precedent was set, when the Chamber addressed a petition direct to the British Minister at Peking on a subject of Customs action at Canton, and this practice having survived, it is worth noting how it originated. Mr. Hewett himself fifty years later, defends the practice.
In the year following, 1863, it is interesting to note that the Chamber, which in those days usually found itself in the fortunate position of having surplus funds, at the close of the year, and dispensed substantial amounts to charities in England, had under consideration the donation of money towards the cost of erecting the proposed City Hall, with the idea of obtaining a meeting room for themselves in that building. A sum of $2,500 was voted in 1864, and the room was eventually made use of, right up to the demolition this year. A half-yearly meeting of the Chamber was also instituted but in 1874 the practice of an annual meeting was reverted to.
It is of much interest to find in the records that the question of having a floating dock in Hongkong harbour came up for consideration in 1864, but was not favoured and the same year the Chamber, it is of importance to note, unanimously decided to address a memorial to the Government opposing the proposed levy of a military contribution on the Colony in the form of a tax which was mooted at that time.
In the resume of the history of the Hongkong General Chamber of Commerce, published yesterday, the period of its principal activities within a few years of being founded was given. We come to-day to a consideration of various local matters concerning the mercantile community and nearly everything, of course, affected them to some extent which their Chamber took up from time to time.
Mention was made yesterday of the almost chaotic state of the currency in the Colony eighty years ago, and the efforts to reduce the coinage to some standard form. Eventually, from the Sixties onward, the silver dollar ousted other denominations. At first came the British dollar, with Queen Victoria's effigy, and later the Britannia trade dollar which we have recently become again used to, though the Mexican dollar continued for many years to be accepted here, and in trading along the China coast, without any question. In this connexion we find the Chamber of Commerce in 1865 considering a letter received from the Shanghai Chamber of Commerce pointing out that the value of the Hongkong dollar, which was then freely used by the Chinese, might be much depreciated, bearing as it did the head of the sovereign, which would necessitate a new coin at each subsequent succession, and suggesting that Hongkong should devise a remedy.
Page 15
CHAMBER OF COMMERCE
(Continuation ).
At the outset the Chamber approached the autho- rities for a reform of the monetary system, and the standardisation eventually brought about can be directly attributed to these efforts.
In 1862 the Chamber moved to offices in the pre- mises of a firm known as Marsh and Boyers, and continued there for some time. That same year an important precedent was set, when the Chamber addressed a petition direct to the British Minister at Peking on a subject of Customs action at, Canton, and this practice having survived, it is worth noting how it originated. Mr. Hewett himself fifty years later, defends the practice.
In the year following, 1863, it is interesting to note that the Chamber, which in those days usually found itself in the fortunate position of having surplus funds, at the close of the year, and dispensed substantial amounts to charities in England, had under consideration the cona- tion of money towards the cost of erecting the propos÷2 City Hall, with the idea of obtaining a meeting room for themselves in that building. A sum of $2,500 was voted in 1864, and the room was eventually made us of, right up to the demolition this year. A half-yearly meeting of the Chamber was also instituted but in 1874 the practice of an annual meeting was reverted to.
It is of much interest to find in the records that the question of having a floating dock in Hongkong harbour came up for consideration in 1864, but was not favoured and the same year the Chamber, it is of importance to note, unanimously decided to address a memorial to the opposing the proposed levy of a military contribution on the Colo- ny in the form of a tax which was mooted at that time.
In the resume of the history of the Hongkong Cameral Chamber of Commerce, published yesterday, the period of its principal activities within a few years of being founded was given. We come to-day to a consideration of various local matters concerning the mercantile community and nearly everything, of course, affected them to some extent which their Chamber took up from time to time.
Mention was made yesterday of the almost chaotic state of the currency in the Colony eighty years ago, and the efforts to reduce the coinage to some standard form. Eventually, from the Sixties onward, the silver dollar ousted other denominations. At first came the British dollar, with Queen's Victoria's effigy, and later the Britannia trade dollar which we have recently become again used to, though the Mexican dollar continued for many years to be accepted here, and in trading along the China coast, without any question. In this connexion we find the Chamber of Commerce in 1865 considering a letter received from the Shanghai Chamber of Commerce pointing out that the value of the Hongkong dollar, which was then freelý used by the Chinese, might be much depreciated, bearing as it did the head of the sovereign, which would necessitate a new coin at each subsequent succession, and suggesting that Hongkong should devise a remedy. "
15
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