358
the Officer in Charge of the Treasury Chest, and without previously obtaining the sanction of this Board, of the advantages which their Lordships had afforded to the Colonial Government of making remittances by means of Treasury Bills
to the (rown Agents which had previously,
Cot at great inconvenience to the
Colony,
been made by mercantile Bills, to
remit sums
of money
which,
whenever
renvilled through the Treasury Chest,
had been paid in, in British
от
Foreign
I
am to
request, moreover, that
Coins, at the Army rate...
you will observe to the Secretary of State
that, although it may
seem at first sight
immaterial whether the Bills granted to
are on/
the Government of Hong Kong account of usual remittances to the Crown Agents previously made by mercantile Bills, or on account of.. remittances which have been generally. made through the Cheat as above stated,
Considerable diffe
there is in
reality
a
rence.
In the first instance, Bills are issued
to the Colonial Government which, if not
thus disposed of, would be sold to other
in the second,
parties at the same rate
they
;
are issued in exchange for dollar which would in all probability, if
the
that,