90 Bedford Court Mansions,

W. C.

S. S. “Olenca”

7th July, 1901.

Sir,

Replying to your dispatch No. 38 of the 22nd March enclosing Report of the West African Currency Committee and requesting a report on certain specified points and generally on the subject of the introduction of currency into West Africa, I have the honour to point out that no mention is made in the report of the advantages other than that of profit which will result from the introduction of a currency. As far as Southern Nigeria is concerned the establishment of a system of currency is of the utmost importance as a civilizing factor apart altogether from other considerations, such as the so called “profit,” which render it the more desirable.

2. Trade in the territories is now conducted by barter and through the medium of cumbersome imported native currencies, brass rods and manillas also cowries in some areas, and in this category may also be included slaves who in actual trade transactions are a sort of ambulating currency transporting together with themselves the native currencies. The Aro Tribes inhabiting the country between the Niger and Cross Rivers are the principal dealers in slaves in this manner, three branches of the tribe being engaged in raiding while the fourth branch, the Inokuns are the slave dealers. These Inokuns carry large quantities of trade goods into the interior by contract porterage with the Ibos, of which nation they with the Abams, Ohoffias, and Baribas, form a tribe or tribes; for it is open to doubt whether they claim to be the same or separate tribes, but there is no doubt but that they are closely connected and work together. The trade goods are disposed of in exchange for slaves, brass rods, or manillas, with which the Inokuns return to the markets of the middlemen. The slaves are sold by barter direct or for brass rods and manilas, fresh supplies of trade goods purchased and conveyed inland when a similar transaction is repeated. It may be taken as undoubted fact that the use of the cumbersome currencies of brass rods and manillas, 30/- worth of either of which is a full load for one carrier, encourages slavery not only amongst the slave raiders and dealers who operate on land, but with the middlemen who have to convey these currencies to market by water in canoes.