Į
(10974 fara 41
An increase of notes is not likely to remedy the exchange: in fact astis should be withdrawn if Kade is
stagnant, (
kos Lenty unless other are then reson
for water being at
a
premium) An increase
at present will only make
more silver
idle
Whether
bank-vaults or
elsewhere,
aud
Fend
6
par
all-noti
Currency: for
better than the
the adds, being esteemed as
silver
"will take the place of silver previously circulating
Amit operate.
The only alternative possibility
is
that ther
notes will become discredited - which
aobody wants.
? send Treasury city of 108740
ству
desf. on it, pointing out that a further
despatch in
expected.
and send this out to
STB
9/7/15
Gov.
27 cos.
Next h.
---יורי--
J. Andrum
Andoors below
विट
hi total issue k + s k k
X U. AND, OTO
Ch. B.
•$8,000,000 there. to. Amoment haid up capital. 62, too wr
Sir J. Anderson
231
I asked Mr. Beckett to find out from
the Treas. the meaning of marked passage on p.
2. See private letter now received from Treas.
Mr. Stabb's memo. in 33818 explains the whole
800
situation more clearly than any other paper
last page as to their loss on silver when the cur-!
rency Contracts.
The only remedies I can suggest are
(1) the exemption of the excess note issue from
the present 1% tax.
(2) authorizing a special issue of Bank notes ag-'
ainst War Loan securities to be deposited with
C.A.
Will you please look at these papers and then
send for me?
Ave
27.7.
(1) Is the 1%/% tax payable me the
Total sssue or auf.
?
security t
in the insul
egained
may
(2) What is the aureos which. be mined before the best condition, Follar for dollar comes rite blay ? Each of the Banks of Jesus.
in the case of
Does the Mercantile H issue hober? 524,280 m 1 Janild? MM
UG 27.7.15.
£1,324,250
Our
2