"necessity pointed out by His Excellency, and unanimously advise that the Stamp Ordinance be put in force from the 10th Proximo.
"His Excellency then brought forward Draught Orders made under Section 8, 9, and 25 of the Stamp Ordinance, and invites Honorable Members to consideration of certain Documents (Nos. 1255/7), which had been handed in by the Manager of the Hong Kong and Shanghai Banking Corporation, (M. N. Krefer), suggesting, among other points, a reduction of the Stamp duties on Bank Notes, and Instruments of hypothecation.
"Debate ensues, and after deliberation it is unanimously Resolved,
"That the Stamp duty on Bank Notes for the first half-year from the commencement of the Ordinance be only two-thirds of that declared to be leviable half-yearly under Section 2 of the Schedule to the Ordinance.
"That the Stamp duty on Bills of Exchange, Promissory Notes and other obligations for the payment of money, not exceeding $57, specified in Section 3 of the Schedule to the Ordinance, shall be, for the first half-year