The Honourable The Lords Commissioners of
Her Majesty's Treasury,
273*
0.0. 3718
6 MAR 931
Whitehall
S.. Rec case 1526
The Memorial of the Chartered Bank of India
Australia & China
Sheweth
1 The Bank was established in the year 1853 by Her Majesty's
Charter dated the 29th December 1853 for the purpose of carrying
on in London under the management of a Court of Directors by
means of Banks and Branch Banks the business of Banking in any
parts of the Colonies or Dependencies in Australia and New
Zealand, in the Islands of Ceylon, and Hongkong, or at any other
Port, Town, City or place in China where a Consulate was or might
thereafter be established.
The Charter Provided that the Bank might at and from
such Banks or Branch Banks or any of them as it might thereafter
establish, make issue and circulate Notes payable to bearer on
demand or otherwise, and re-issue the same provided that no
such notes should be issued for the Island of Hongkong and
other places in China, for any other sum than $5 or £1 Sterling or
some multiple of such $5 or other equivalent amount.
And it was further provided that Notes issued at Banks or Branch
Banks in any Colonial Possessions, Settlements or Dependencies
should be made payable in coin of the United Kingdom or other
coin lawfully current in the places from which they should be
issued. Provided that there should also be kept in reserve by the
Head or Branch Bank in each of the Colonies, Settlements, or
Dependencies, or other place where a Bank should be established,
an average monthly amount of specie equal at least to one third of
the Promissory Notes of such Bank and Branch Banks at any time
in circulation in such Colonies, Settlements, or Dependencies
respectively.