420
of each year, or by the month",
while the rest are dimmal.
9.
With
regard lastly to a Special Government chest for large amounts if it is intended to keep it in some other place than a Bank, I am
doubtful whether
the risk of fire
or of larceny or
burglary would not more than counterbalance the risks of lodging such sums in the Bank to the credit of the Government, while if it is intended to keep the special chest in a Bank and to treat the
money
as money which the Bank cannot touch, I
doubt whether any
manager
would consent to such
an
arrangement, which in his eyes
would appear to be a
reflection
on the stability of his institution.
10.
I am of opinion therefore that
the current account need not on an
average of days exceed one hundred and fifty thousand dollars exclusive of fixed deposits in other Banks, though at times it might temporarily amount
to more than this. In this opinion I
am
assuming
that
moneys that are known will be
shortly required to meet Crown
Agents' drafts are not to be regarded,
as
coming within the category of State restrictions, though practically
they form part of
the current Account of the Colony if
they
are to be permitted to be lodged in the
Bank. This latter
arrangement is the most convenient for the Colony,
but if not permitted and if the Alternative is to keep the
money in a chest,
I would ask that the
10.
Question