unless it can be shewn that
any
"serious inconvenience will resull-
from the adoption of such a course!.
I thank
you for communicating
to me the reasons influeueing- the decision of the Secretary of State in this matter, which, on broad
ground's
are
knews we atte
indefensible, but under
the peculiar eircumstances existing in this Colony.
you
are, as
must know, untenable here.
It is probably beyond my
frovince
arque
on
here to controvert or
these
Alatons,
and I shall,
there fore endeavour, in a subsequent Communication, to shew to Dis
Svcellency the Governor
good
Cause
174
why his policy, in granting this Bank the concision to issue one Dollar Notes was a great public
boon, and that serious inconvenience
would ensue
from
their withdrawal.
from circulation.
We frocured the Notes at Considerable Cost, and began- their issue in October, 1872, and the demand for them by the Simblie
has been steady ever since;
until now there
are about
($170,000, One hundred and seventy thousand of the Notes in Pirouention, and to judge from appearance the demand. will steadily contrine.
I am persuales