Sessional_Paper_1884 — Page 539

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of November, 1879, had just been received by me, I felt bound to see how the existing state of things would answer, and I was also considering the other branch of the currency question.

10. Recently, the manager of one of our leading banks assured me that, to his knowledge, week after week European merchants trading with Japan lose large sums by exchange operations which the legalizing of the Japan Yen would render impossible; and he begged of me again in the interests of Hongkong trade to. legalize what he called a far better coin than the Mexican dollar.

the

11. During my visit last year to Japan, I had an opportunity of carefully examining the Mint at Osaka, and I enclose for the information of Her Majesty's Government an interesting Report that was made for me by Mr. Gowland, English Assayer. What I saw at the Imperial Mint, and my interviews with the various Officers connected with it, gave me a most favourable impression as to the high character and efficiency of the Mint. With the appliances I saw in operation, twenty-five thousand silver Yen can be turned out per day; and with an additional assayer, and an extension of the weighing department, Mr. GoWLAND calculates on a production of fifty thousand per day.

I have, &c.,

J. POPE HENNESSY.

The Right Honourable

THE EARL OF KIMBERLEY,

&C..

&c...

&c.

(12.)

The Earl of Kimberley to Governor Sir J. Pope Hennessy.

DOWNING STRRET,

15th March, 1881.

SIR,

I have the honour to inform you that I have not yet received from you the formal reply of the Hongkong & Shanghai Bank, in regard to their One Dollar Note issue, referred to in your despatch No. 182 of the 2nd of November last.

Until this answer is received, no definite steps can be taken towards meeting the wish of the Bank to establish a branch at Singapore.

Governor Sir J. POPE HENNESSY, K.C.M.G.,

&c.,

I have, &c.,

KIMBERLEY.

&c.,

&c.