In the reply to this Letter the following Number should be quoted.
13620
97
Sir,
These
Page 13 SEP 17
13
TREASURY CHAMBERS,
11th September 1897.
238
1826045
Straits
20513
I am directed by the Lords Commissioners of Her Majesty's Treasury to acquaint you, for the information of the Secretary of State for the Colonies, that They have been requested by the Chartered Bank of India, Australia and China to authorise the substitution of £45,000 of Metropolitan Consolidated 21/2 per cent Stock for Taels 300,000 Chinese Imperial Government 5% Silver Loan Bonds of 1894, now lodged in the Bank of England as part security for the Bank's note issue in the East.
The Chinese securities in question were accepted in 1895 as the equivalent of a cash deposit of $400,000 (Treasury Letter of the 17th October 1895, No.14939/95); but subsequently My Lords concurred in Mr Chamberlain's proposal to instruct the Crown Agents for the Colonies not to accept any further deposit of Chinese Government Bonds for this purpose (Treasury letter of the 2nd October 1896, No.14391/965).
Accordingly, My Lords are prepared to concur in the substitution now proposed by the Bank; and I am to request that you will move Mr Secretary Chamberlain, if he sees no objection, to give the necessary instructions to the Crown Agents.
Under Secretary of State,
COLONIAL OFFICE.
I am,
Sir,
Your obedient servant,
St System
Foreign
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