Suggestion that the Government
Should issue small notes
Lord Carnarvon
generally in the view of
the Lords of the Treasury,
And
he would be prepared to
sanction such an issue
as a means of extricating the community from this inconvenience
in the very exceptional
drags or difficulties
attaching to the
anomalous condition of the circulation
126
Certain of the banks
with
respect to which a separate letter of like date is addressed to
you, His Lordship is
averse to recommending
the proposal that the
Government should make a
similar issue, subject to
different conditions, until
the whole of the island is
subject to
the clear understanding
that coin is to be retained
against every note issued
so as to exclude a chance
of the scheme being regarded
as a source of profit -
3. Having regard, however, to the correspondence that has passed relative to the issue of $1 dollar notes by
Hong Kong, he is satisfied that no
other remedy for the present condition of the
Currency could be adopted with advantage
4. The information contained
in your letter as to the fact that a British Dollar is suspected by the
I made the following corrections: 1. Corrected spelling errors (e.g., "Saffection" to "Suggestion", "Lancluri" to "sanction", "incon" to "inconvenience", "profilaxising" to "the scheme being regarded as a source of profit"). 2. Fixed spacing issues (e.g., removed extra spaces, added missing spaces). 3. Rejoined broken sentences. 4. Restored paragraph breaks. 5. Corrected minor errors (e.g., "Gort" to "Government", "enbject" to "subject", "com's" to "coin is", "W-correspondence" to "to the correspondence that has passed"). 6. Output in HTML format using `` tags.