526
Keep on better terms amongst themselves # their persons, and where all are settled by cheques and transactions large Compradore's orders. The Chinese Community might be more inconvenienced if notes were suddenly withdrawn; but from what I have stated above, it is unlikely that -- the dearth of notes apprehended by Mr Gordon will arise, and I therefore respectfully submit that the wisest course will be to defer further changes till I can have had the benefit of six months' experience of its working.
16.
Finally, I would observe that Your Lordship would probably not have heard of any difficulty raised by the Banks, if the latter had contrived to do such as would enable them to do, as is done in Lombard Street every afternoon - viz, exchange cheques and notes with another, thus dispensing with the actual manipulation of bulky silver. Unfortunately, each Bank has lately been in the habit of instantly cashing all cheques and notes of rival institutions, and this internecine war entails the necessity of always keeping on hand a larger proportion of coin than would generally be required under similar liabilities in England.
I have the honor to be,
Your Lordship's,
Most Obedient Servant,
Richardhaus Macdonnell
Governor.
12.
526
Keep
on better termo
amongst
themselves
#
their persons, and where all
are settled by cheques and
transactions
large
Compradore's
orders. The bhinese Community might be
were
more inconvenienced, if notes suddenly withdrawn; but from what
I have stated above, it is
unlittely that
--
the dearth of notes apprehended by M? Gordon will arise, and I therefore respectfully submit that the wisest course will be to allow the Stamp. Ordinance to
defer further
come into operation, Changes till I
and
can have had the benefit
six months' experience of its working.
of
16.
Finally
I would observe that
not have
Your Lordship would probably theard of any difficulty raised by the Barks, if the latter had contrived to
such as would enable them to do, as is
done in Lombard Street
every afternoon-viz
one
exchange cheques and notes with another thus dispensing with the actual manipulation of bulky silver - Unfortunately
each 1Bank has lately been in the habit
of instantly cashing all cheques and notes of rival institutions, and this Internecime War entails the necessity of always keeping
coin, thair
on hand a larger proportion of coin,
would
generaily be required liabilities in England.
under similar
I have the honor to be,
Your Lordship's, Most Obedient Servant,
Richindhaus Mandeels
Governor.
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