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f1 notes. The Government note should be smaller than the present one dollar note, so as to be distinguishable by its size at once from notes of other values. The best size will be about 6 x 3½ inches.
The notes should be printed in the safest manner known, on very durable paper. I cannot see why the Hongkong and Shanghai Bank should not, if it chooses, be allowed to continue its present issue of notes side by side with those of the Government.
The present inspection of the bank's bullion reserve being of course continued. The Government has met with much ready cooperation of all kinds from the Bank, and would like, moreover, about $1,500 a year to be set aside for the withdrawal of these notes. There should not be a note too many.
This, however, is a question of detail which does not affect my main suggestion.
6. The Government issue. I consider, would be advantageous if extended to at least $1,500,000. I have not the least doubt that the Colony with its increasing Chinese population will absorb quite as much as that.