Settlements was transferred from the East India Company to the Crown, and the Straits Settlements came under the Government of British India. A second issue of the same denominations was struck in 1862 at the Indian Government Mint, Calcutta. These bore the inscription "India – Straits". In 1871, silver coins were issued in the name of the Straits Settlements for 5, 10 and 20 cents, followed by copper , and 1 cent the next year and silver 50 cents in 1886. Silver dollars were first minted in 1903. A 3-page special issue of the Straits Settlements Government Gazette published in Singapore on 24 August 1904, contained the following proclamation by then Governor, Sir John Anderson: The purpose of this action was to create a separate exchange value for the new Straits dollar as compared with the other silver dollars that were circulating in the region, notably the British trade dollar. The idea was that when the exchange value had diverged significantly from that of the other silver dollars, then the authorities would peg it to sterling at that value, hence putting the Straits Settlements unto the gold exchange standard. This pegging occurred when the Straits dollar reached the value of two shillings and four pence (2s 4d) against sterling. Within a few years, the value of silver rose rapidly such as to make the silver value of the Straits dollar higher than its gold exchange value. To prevent these dollars from being melted down, a new smaller dollar was issued in 1907 with a reduced silver content. A parallel story occurred in the Philippines at the same time. The last cent coins were issued in 1916. Dollars were last struck for circulation in 1926, with 50 cents production ending in 1921. The remaining coins continued in production until 1935. Banknotes The Board of Commissioners of Currency introduced 5 and 10 dollar notes in 1898, followed by 50 and 100 dollars in 1901 and 1 dollar in 1906. Emergency issues of 10 and 25 cents were made between 1917 and 1920. 1000 dollar notes were issued in 1930 but during the remainder of the 1930s only 1, 5 and 10 dollar notes were issued. Straits Settlements government issues (1899–1942) Victoria (1837–1901) The Government of Straits Settlements was first authorised to issue currency notes by Ordinance VIII of 1897 during Queen Victoria's reign, which came into operation on 31 August 1898. These