7
523
Bank probably exceeds a Million and a quarter of dollars- and frequently during the year was much in excess of that amount, as Mr Gardon can inform Your Lordship.
9.
The same may be said of other Banks- as, for example, the Comptoir d'Escompte, which does quite as much local business here as the Oriental, but the Oriental, but issues no notes at all.
It nevertheless has its Coffers frequently crowded inconveniently with bullion detained there by adverse exchanges or other circumstances.
10.
I would therefore infer from these facts, independent of others within my own Knowledge, that any private action taken by the Oriental Bank in reference to the retiring of its notes arises as much from causes unconnected with the Stamp Ordinance, as from dread of any intended tax- and the decision of its Directors in the matter is comparatively immaterial to the General Public here.
As however Mr Gordon states" there is little doubt but that the imposition of the proposed duty will lead the various Bank's interested Seriously to entertain the question of calling in their notes", I felt it right to inquire how far that statement was correct. As the returns show the circulation of the Hongkong and Shanghai Bank alone to equal that of all the others combined, I this day sent for Mr Keswick was not mentioned but Mr 'Presler' or 'Prefser', likely should be Mr Keswick or another person, the Manager of that Bank, and asked him, what effect the operation of
1.
7
523
Bank
probably exceeds a Million and a
quarter of dollars- and frequently during
year
was much
in
last excess of that amount,
ao Mor Gardon can inform Your Lordship.
Molpedon
9.
The
same may
be said of other
Banks- us, for example, the Comptoir d'
as
Excompte, which does
quite
as much local
business here as the, Oriental, bust
the Oriental, but issues
Inotes at all.
Да
то
nevertheless has it's Coffers
frequently crowded inconveniently with bullion
detained there by
adverse
exchanges or other
circumstances.
10.
I would therefore infer from these facts,
independent of others within
Knowledge, that
any
my
own
private
action taken by the
Oriental Bank in reference to the retiring of
it's notes arises as
much from
causes
---
unconnected with the Stamp Ordinance,
ab
from dread of any
that
any
intended taxe- and
decision of its Directors in the
matter is comparatively immaterial to the
General Public here.
M.
#
As however Mr Gordon states" there is little doubt but that the imposition of
the proposed duty will lead the various
Bank's interested Seriously to entertain the "question of calling
in their notes", I felt
ار
it right to inquire how for that statement was correct. As the returns show the
circulation of the
Hongkong
and
Shanghai
Bank alone to equal that of all the
others combined, I this
day
sent
for
M
Prefser, the Manager of that Bank, and asked him, what effect the operation of
No comments yet.
Private notes are available after approval.