taken the question is not very easy. I do not think there is anything here said which contorverts the general correctness of the new taken by the Treasury, respecially The remark that a reform of the coinage the proper remedy for cists resulting from. Acteristion of coin" indeed the local papers practically admit this, for far of them capress a hope that the issue may be continued until an improved currency is established": again It is clearly inexpedient that one Bank Chould have a privilege allowes it under local Ordining, which the 3 other Banks in the Colony how : had refused them in the Charters renewed by the Treasury (4 this may be the reason why The Oriental Bank has not difed this memorat
had been
me
So that if this was a prestion of anthonging
an issue of if noter for the pet time, Ithink the refusal should have been adhered to bus- the question is hardly the same when the Governor under a local power has give the
authority, the notes
already in circulation.
are
The ordinance for bad thi: Bant to issue note of less than 5 except with the sanction of t
Governor;
162
now the Governor having fire
given
either bad or likely to be
This sanction, I don't pretend to know exact What legal power to has to withdraw it Again, or to order the withdrawal of the notes: but assuming him shave the power, I should say it would be rither an arbi- trany exercise of authority unless it was dearly proved that the previous tanction had been productive of paulis dangerous to the general community; Its not think this is proven : eo for the ivme appears to have been convenient, & it is certainly likely to be in the present state of the currency, how that the Mint is closed, then doce not
being reformed appens any likelihood of the currency remedying for the Apperen if the new Mexican Follars to become popular Henerally Current, the chopping propen. -Sity will not be cradicated.
A
ہو
As to the future danger bith community From these noted, I terve that the Beat is authorized to issue notes not raceeding the amount of its paid up capital feite
Grellion The usual provide
as to specie fin reserve) which is 5 millions of dollars; & From the Blue books it appean that the actual notes within a patio mariee monthly dry
Circa,
realation