Bank in addition to the Manager here from Bombay, have a local Board of more than three Directors who
other with the Manager
houer, statements required
Together
ow
verify by Government.
in the
any
are to
3. _ The Western Bank of India to deposit
the Colonial Treasury - East India Company's stock, or
1 or other valid Government stock, equal to the moiety of its Bank note circulation, for which the said stock, is to be an absolute security, so long as the Bank issues notes payable on demand. Provided that current coin or bullion equal to the moiety of the Bank note circulation be always kept in reserve
offers of the Bank to anot the
the
notes payable on demand.
4th The treasure in the coffers of the Branch Bank 1. be subject to the
inspection
Page 365
inspection of the Colonial Treasurer on
demand.
f
the
5th - Monthly average returns
Bank note circulation of the Western Bank in China, and of the Coin and Bullion in the coffers of the Branch Bank in China to be rendered to the Governor by the Manager and local Board, and to be verified by the Colonial Treasurer.
6th The Notes payable on demand to be
issued for not less than $5 each.
7th _The Notes of the Branch of the
Western Bank of India" thus secured to be received in payments of Government
by the Colonial Treasurer, and to be disbursed by him to parties not objecting to the receipt of the said Notes.
8th The Government to be at liberty at any time to cease its patronage of Bank when it considers that "The
Revenue
any
the
Sevegoing