CO537-(1262-1649) — Page 184

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Ref.:

CO 537/1369

THE NATIONAL ARCHIVES

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Ins

restrictions. Further information is given in the enclosed Terms and Conditions of supply of National Archives' leaflet. Please note that this copy is supplied subject to the National Archives' terms and conditions and that your use of it may be subject to copyright

00148

145

or

Issued by and on behalf of the Bank. On that matter,

it is understood that the Bank's own legal advisers have advised that the notes were not so lawfully issued, but it would no doubt be agreed that the

issue could only be settled finally by action

in the courts.

2. The present position with regard to these notes is, therefore, one of public uncertainty as to their future treatment and owing, among other things,

to the fact that counterfeiters have found it

possible to alter the numbers of the notes in question

so as to make them indistinguishable by the ordinary public. from notes of series whose genuineness

is unquestioned, doubt is being cast on the whole

of the Bank's issue, at least of denominations

higher than $10. It is generally agreed that it is

a matter of urgent importance to remove those

doubts.

3.

Having regard to the general effects on the

prestige both of the Bank itself and of the Colony

and on the general public faith in the currency as

the

and

cms

Ref.:

THE NATIONAL ARCHIVES

CO 537/1369

restrictions. Further information is given in the enclosed Terms and Conditions of supply of National Archives' leaflet.

Please note that this copy is supplied subject to the National Archives' terms and conditions and that your use of it may be subject to copyrigh

a whole a compl te repudiation of these notes,

the virtual impracticability of any intermediate course,

Mr. Hall believes that it is on balance desirable

that they should be

recognised them completely and to take

any

necessary steps to remove doubts as to their should be caren

legal tender status He understands that that

view is in principle shared by the Bank. Such

entarl action must, however, necessitate very large

responsibilities for meeting consequent

liabilities created by the issue of these notes

the appropriate starting

without the provision of any/cover for them in

clearly

sterling

ན

otherwise and Mr.Hall does not. faal

/that

The

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