26
SIR,
(10.)
The Earl of Kimberley to Governor Sir J. Pope Hennessy.
DOWNING STREET.
8th September, 1880.
I have the honour to transmit to you herewith a copy of correspondence which has passed between this Department and that of the Lords Commissioners of the Treasury in regard to permission to the Hongkong and Shanghai Bank to establish a branch at Singapore which the Government of the Straits Settlements are prepared to concede by means of an Ordinance. The Ordinance in question has been post- poned under instructions from me, but Sir F. WELD, has, you will observe, reported by telegram that the Bank are hampered by the delay. You will perceive that the Lords Commissioners of the Treasury have declined to sanction the establishment of a branch at Singapore pending a decision on the question of a state issue of One Dollar Notes and the consequent withdrawal from the Hongkong and Shanghai Bank of the privilege temporarily granted to it to issue notes of this amount. question formed the subject of the 3rd and 4th paragraphs of my predecessor's despatch to you No. 148 of the 20th November, 1879, to which I shall be glad to receive a reply at your early convenience.
This
As, however, the Bank is anxious to establish the branch at Singapore without delay, and as it is yet uncertain whether the state note issue will be eventually un- dertaken, you should at once give your attention to the papers now enclosed, and ascertain whether the Bank will give the assurance required by the Lords of the Treasury in the terms stated in their letter of the 27th ultimo. You will lose no time in communicating to me the result, without waiting to report on the question of the state note issue if that matter is not yet ripe for action.
I have, &c.,
KIMBERLEY.
&C.,
&c.
Governor Sir JOHN POPE HENNESSY, K.C.M.G.,
SIR,
&C.,
Colonial Office to the Treasury.
DOWNING STREET,
27th May, 1880.
}
I am directed by the Earl of KIMBERLEY to request that you will lay before the Lords Commissioners of the Treasury the accompanying copy of a despatch from the Officer recently Administering the Government of the Straits Settlements enclosing an Ordinance to enable the Hongkong and Shanghai Bank to establish branches in the Straits Settlements and to issue Bank Notes there. Lord KIMBERLEY would
*
be glad to learn whether in the opinion of the Lords Commissioners of the Treasury Her Majesty should be advised to confirm this Ordinance in its present form.