Lord Camaroon would suffer with reference to the
Allusion made by the applicants to the concession of a similar privilege to the Hongkong & Shanghai Corporation. It may be useful to remind them that when the Governor in 1870 granted the concession in question, he was directed by Lord Kimberley to issue instructions for calling in the one-dollar notes and to prevent the issue of any further notes of less value than $5, and that it was only in deference to a memorial signed by the Chartered Mercantile Bank of India, London & China, and others, praying for the continuance of the issue that Lord Camaroon subsequently assented to the notes already in circulation not being withdrawn, and that this assent was accompanied by the express condition that it was not to be considered a precedent for extending any similar facilities to other Banking Companies.
Jan &c. take this opportunity of reminding you that the letter from this Department of the 20th ultimo is still unanswered & consequently that the Governor's despatch No. 261 of the 8th April 1870 as to the improvement of the Currency laws of the Colony has as yet received no reply.
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