furnish the naval
val. retur
I have k
87. G. W. F. Playfair.
Miel Manager
The Horrible.
N. G. Mitchell-Innes
Colonial Treasurer. Hongkong
DRAFT.
Je Secretary
Mr.
Mr.
to the Treasury.
MINUTE.
Stanley's 25 Aug. Lucas 25
Mr. Fairfield.
Mr. Wingfield.
Mr. Bramston.
Back
Meade.
Mr. Buxton.
Marquess of Ripon
8 June 1894. End. un 12771.
H
We/12771 Hong Kong
Sir,
Downing Street
Aug 29
And
August 1894.
431
Refer> 4yr letter 8909/94 of the 5th of June I am directed by the Marquess
of Ripon to transmit to you to be laid
before the Lords Commissioners of the
Treasury a copy of an application from
the National Bank of China that its
recently issued notes may be received
in payment of taxes and otherwise at
the Treasury of Hong Kong.
Lord Ripon is advised that
the Bank is entirely within its rights in issuing the notes, but it is a question of policy whether the Colonial Government would do well in receiving
them in the ordinary course of business.
His Lordship caused inquiries
to be made as to the standing of the
National Bank of China; and its financial
history turns out to be
so unsatisfactory that he
has decided that its notes cannot be
received by the Govt.
But apart from this, and admitting that there is a real demand for
further notes, it seems questionable whether it is fair to the Hong Kong
and Shanghai Bank which has at the
instance