CO129-112 - Acting Governor Mercer - 1866 [3-4] — Page 11

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now obtain incorporation elsewhere than in

for instance in India. These

England lay for regulations might be stile in force in

various Colonico but

if

he believed they

existed somewhat

as a measure of protection

to local Banking interests as in Australia. when he perceived that even Banks incorporated by Royal Charter sour debarred from establishing without the consent of the

Here in Houghing there existed no such protection nor was it desirable that there shied be- but at the same time while Simited Banko

Colonial Anthorities. Here in

formed in England in India conto Come

and trade here to

any exclint, it seemed

unfair that the people of the place should

be

themselveste debarred from forming similac

associations

in

equally unrestricted terms.

The exception thus made in the operation

of the Companies Ordinance might of omise be

be of

no

amsequence but if so the amendment would be fruitless. If on the other hand local Banking Companies

were to be formed in obong thing, they should cutainly be allowed the same

as onder Bank's coming here

advantages

from England or India.

(Fru copy) Malexande

Aching Colonial Secutary