of the account of the Colony as being overpaid by £10,500 because that statement is calculated to mislead,
I do not imply that Exchange are Good Bills.
Regarding the remittance of funds I have the honor to call the Earl of Carnarvon's attention to the following figures showing the Assets and Liabilities of the Government of Hong Kong at this Office on the commencing days of the two succeeding Quarters, and on the instant:-
Debt to Crown Agents Other liabilities Total Bills maturing 1st January 1866 £758 £758 1st April £9,571 £5,000 to Man Office £14,571 £25,000 due 22 July 1st July £6,231 £10,000 to -do- £16,231 1st August £1,051 £10,000 to Man Office £13,000 to Mint £3,405 £15,000 due 5 Aug & 25 Sept £25,000 due 5 Aug, 25 Sept & 23 Oct.4. Under the head of Bills maturing, Acceptances of the Agra & Mastermans Bank, amounting £15,000, are included though they formed available asset; but as the Governor of Hong Kong could not be aware of the unfortunate stoppage of that Bank it is right to give credit for the amount to Colony.
5. Whether the Secretary of State's instructions have been complied with the above figures must decide. On the instant the liabilities exceeded £34,000, without taking into account any expenditure for current miscellaneous services; whilst the Assets were only £25,000 in bills not then matured.
6. The Government of Hong Kong may be driven from circumstances to incur the risk attending the remittance of funds to this Country by Bills of Exchange,
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