the privilege to one Bank only. 6. Moreover the issue of notes should in my opinion belong
· to Government and it seems to me therefore that a commencement might well be made with respect to those of one dollar. I do not see too why the Government should not keep in its own hands as - far as feasible a power which might be made available to a limited extent in
in procuring funds for public works. "". As regards the questions.___. asked by the Treasury as to _ terms in which permission
was
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given to the Hougtong and Shanghae Bank and the power of the Government to recall it, and in respect to the- amount of the whole note. circulation and the proportion which one dollar notes bear to the whole issue, I have the
honor to inform your Lordships 1st That permission was
granted! under Section XII of Ordinance
5 of 1866 and that there appears.
to be no
·legal.
impediment to it's recall if needed,
andy. That the Total amount of
notes in circulation on the