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My Lords agree with the Secretary of State of late, that provision should be made in the new Hongkong Ordinance to save the issue of one dollar notes by the Bank, subject to existing restrictions or limitations.
It is difficult to act now for certain provisions should be found in one Ordinance but should be wanting in other Ordinance.
My Lords submitted to you 14889 and also to the condition of withdrawal in the event of Government issuing a dollar note.
They are glad to have had Their attention called to the point of reissue of notes. There is so much variation in the details of Royal Charters regulating Banking in the Colonies, that it is often difficult to follow.
In the amended clauses, which they sent in their letter of 19th August, They intended to follow generally the provisions of the more recent Royal Charters authorising Banks established in different Colonies and Countries to issue notes.
The 18th Section of the Charter of the Chartered Mercantile Bank of India, London and China, for example, runs as follows:
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