Sessional_Paper_1907 — Page 1019

623

Enclosure 3.

HONGKONG, 2nd June, 1906.

SIR, I have the honour to inform you that I propose putting the following questions at the next meeting of the Legislative Council:-

**

*

**

3. Will the Government take steps to enquire what practical means can be adopted for re-establishing and maintaining the value of British subsidiary coinage on a par with the dollar?

I have, etc.,

A. G. M. FLETCHER, Esq.,

Clerk of Councils.

*

EDWARD OSBORNE.

REPLY TO HON. MR. E. OSBORNE'S QUESTION ON SUBSIDIARY COINS.

3. The Government have made enquiries and are satisfied that the only practical means that can be adopted for re-establishing the value of British subsidiary coins is to cease for the time to issue such coins and to induce the Cantonese authorities to stop the issue of Chinese subsidiary coins, the overproduction of which combined with depressed trade has brought about the fall in value of both British and Chinese subsidiary currency.

HONGKONG.

No. 121.

DOWNING STREET,

27th June, 1906.

SIR, I have the honour to forward to you the enclosed copy of a letter from the Electric Traction Company of Hongkong, Limited, with regard to the circulation of Chinese subsidiary coin in Hongkong.

2. I should be glad if you would furnish me with a report on this matter,

Governor

Sir M. NATHAN, K.C.M.G.,

&c.

Sl.,

fc.

I have, &c..

ELGIN.

THE ELECTRIC TRACTION COMPANY OF HONGKONG LIMITED.

19, ST. SWITHIN'S LANE, LONDON, E.C.,

19th June, 1906.

MY LORD,I am directed by my Board to place before your Lordship certain facts in regard to Chinese subsidiary coinage circulating in Hongkong, and to ask your Lordship to consider whether it would not be possible for the Hongkong Government to take some action to alleviate what is a heavy tax on the trading community in Hongkong and which affects us particularly as a Tramway Company owing to the large number of small coins which are tendered to us in fares.