Page:Indian Journal of Economics Volume 2.djvu/394

 880 W. $. HINTON bullion value, silver bullion when the summer of that year. To return to the attempts were made to and were even shipped to Shanghai as price of silver rose in the state induce of affairs in 1906-8: the Canton mint not to coin any more subsidiary coin, but these attempts were attended with very little success. The two subsidiary coinages continued to mix and to be used in both the Colony and the Province, and they con- tinued to depreciate, the predominant influence being the amount of the issues by somewhat half-hearted attempt to coin which happened to be paid Treasury did not have any great discount, and the subsidiary coin the Canton Mint. A redeem all subsidiary into the Colonial effect upon the poured into the Colony !rom the Province fast enough to rise the rate again. It was felt that the time had come for more determined action. Accordingly the local trans- port companies refused to accept any but the Hong- kong subsidiary coin in payment. In doing this they were certainly within thought to have the The consequences, Chinese the their rights, and they were support of the Government. however, were very curious, for boycotted the trams. Free rides were given by the enterprising compsny in order to break the s. pell, and these rides were greatly appreciated, especmlly by the younger members of the commumty, but when any question of payment arose the boycot was as determined as ever. stepped to divide taxation cotters. struggle, promised in, and the city upon the At the secured powers into districts, district which most interesting Finally, the Government by an Ordinance imposing harbored hen unwillingness to ride to become very expensive the stage in additional the boy- of the a tram oneself and one's neighbors, the boycott broke down, and