or in result in vain loss both in treasury; but the only alternative course which I should be prepared to approve in that direction described in the last para. of my predecessor's despatch No. 222 of 10th October 1895, namely, to place the surplus in a vault Safe where it will earn interest but will be at any time free from the risk of loss owing to the foreseen changes in the rate of exchange.
The restrictions placed on the amounts of the bank balances are imposed not for the sake of profit, but for greater security and I have said above that there is no reason for modifying the instructions of my predecessor that the aggregate of unsecured balances must not exceed $350,000, whether that amount be divided between three banks or only two, as regards the sixth para. from