Ger. minute on 5555,
15/74
Same mistake as
I fell into the
Reha
W. Austin says he has done in assuming that the note circulation given in the Bluebook Returns deals with that of the other parts besides Hongkong. And we also quoted then figures in our letter to the Treasury of 21 Dec-1874 on 13647.
Unless the return is made to include the whole note circulation, it is impossible to ascertain whether the Bank complies with either the 1st limitation (viz. as to capital) or the 2nd (viz. as to specie) provided in clause 13.
Send to Treasury for consideration and make it clear to Mr. Meade.
496
I have since looked through the old Correspondence, of which you will find an excellent summary in 8921/73.
I find that the Treasury distinctly laid it down in 1866 that all notes should be issued payable at the principal Establishment, but I have not found the reasons for this, nor does the present proposition appear to have been discussed. We may fairly leave it to the Treasury to find out their objections, but I confess to very little experience.
EAR
JAR
17/12/75
On such a joint
the remark as to the Bluebook returns.
We should also see if the point raised by Mr. Denting was dropped.
Re-read the correspondence before writing to the Treasury.
RM 25712
3/276.