Next, I have no opinion that there would be no objection now to giving a share of the Government business to the New Mercantile Bank, but I would remind you that the present limited balances allowed in the Hong Kong-Shanghai Bank and the Chartered Bank were only sanctioned in my despatch of the 30th March last.
As a temporary measure, for as long as only two Banks in the Colony were employed, the New Mercantile Bank is now employed; the clients in the other Banks must be reduced so that the total in the three Banks is kept within $350,000.