has consented to hold over their claim for this £10,000 from the 22 Instant to the 22nd proximo
at their minimum rate of discount--
at present however is 10 per cent.
Jannes annex a statement of Assets & Liabilities of your Government so far as this Department is concerned The Acceptances of Agra - Mastermans Bank, amounting altogether to £15,000 have been omitted in this statement, as they form no available Asset at present, 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 more over the liabilities are for the most part immediate, whilst the Assets do not mature for some time.
This state of the Hong Kong Account at this Office may doubtless be ascribed to a certain extent to the failure of the Agra Masterman's Bank, but had that unfortunate occurrence 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 of Hong Kong to this matter,
I have &c.
Signed; M. C. Sargeannt