the Stamp of whose office appears on the
Bill.
The Bank of England has consented to hold over their claim for this £10,000 from the 22nd instant to the 22nd proximo at their minimum rate of discount which at present is 10 per cent.
I annex a statement showing the Assets and Liabilities of your Government so far as this Department is concerned.
The Acceptances of Agra and Mastermans Bank, amounting altogether to £15,000, have been omitted in this statement, as they form at present no available Asset and are not likely to do so for some time to come.
The Assets amount only to £20,000 whilst the liabilities (being £45,400) exceed the former by £25,400; moreover the liabilities are for the most part immediate, whilst the Assets do not mature for some time. This state of the Hongkong account at this office may doubtless be ascribed to a certain extent to the failure of the Agra and Mastermans Bank, but had that unfortunate event not happened your remittances would have been inadequate to meet the Authorized payments.
I have to request that you will call the early attention of the Governor