Rits present and the Philippines have been gradually forming a business connection with Hongkong. Other Ports in those countries are also coming into notice, and it is clear that the Bank's operations can be usefully extended to these places.
The object of the present Ordinance is to grant them facilities for doing so, and personally I have no doubt that these extended powers will be usefully exercised. It has, however, been thought advisable to add a clause suspending the operation of the Ordinance until the Royal Assent is obtained. I think that the Royal assent may be properly given to this Ordinance.
(Signed) Theor. C. Saytlar
Acting Attorney General
Hongkong,
April 10th 1872.
(True Copy)
W. M. Smith
Acting Colonial Secretary.