55
the
me Dollar Note if one by $74,000 and thus bring the issue up to $300,000.
2.
I met inform Your Lordship
that in accordance with instructions received from Your Lordship's Despatch No. 21
a notice was sent to the Hongkong and Shanghai Bank to the effect that the then circulation of $226,000 in One Dollar Notes was not to be exceeded.
3.
For those Notes owing to their portability compared with the heavy and unwieldy Dollar Sycee, there has been a special demand, which has not been confined to Hongkong, and in consequence local circulation has been so much reduced that the Bank has recently been unable to supply the Government Department with the $5,000 of small Notes required on the 1st Day of each month, add to which the inconvenience entailed by this circumstance has been further increased by the exhaustion of $10,000 of Subsidiary Coinage imported in May 1878.
The remedy which Mr. Greig, the Manager of the Hongkong and Shanghai Bank, suggests for this state of things is a further...