311
the absence of
D
Governor
strict contol by the Colonial
over the transactions
of
the Savings
Banks it would be imwise to accept any
responsibility towards those Institutions, while
ad
the interference of the Colonial Governor, regards the framing of the Rules and the
proposed fiscal exemptions, would certainly the belief on the part of ignorant
encourage,
investors that the Colonial Government were
in some degrees responsible for the solvency
of the Savings Banks.
The Commissioners would add that
the combination of a Savings Bank with
the Hong Kong and Shanghae Banking
Corporation appears to be merely
a means.
of extending the Banking operations of the
Corporation;- the security and conduct of the
business
business
of
the two Branches being in
substance identical, with the singles
differences that Depositors in the Savings
Bank Branch would receives
a
lower
rate
of
Interest
on
their deposits than the
ordinary customers of the Banking
Corporation.
am
(signed) C. Rivers Wilson