STAMP DUTIES.
THE RIGHT HONORABLE THE EARL OF CARNARVON,
TO
GOVERNOR SIR RICHARD GRAVES MACDONNELL, C.B.
Downing Street, 15th December, 1866.
138
SIR,
I have the honor to acknowledge the receipt of your Despatch No. 119 of the 10th September, enclosing the Ordinance No. 12 of 1866 for imposing and regulating Stamp Duties, together with copies of a Memorial and Protest against the measure, and a copy of your reply. I have also to acknowledge your further Despatch No. 132 of the 27th September, enclosing details of a public meeting, and a Memorial from the Merchants at Amoy, and a copy of your reply, and also your Despatch No. 137 of the 15th October with another Memorial from the residents of Hongkong against the Ordinance.
I am glad to infer from your Despatches that the able answers which you have returned to the Memorialists are producing their effect upon the inhabitants of Hongkong.
I have carefully considered the objections made by the Memorialists to the Stamp Act, and your replies to them, and I readily believe that they do not proceed from any captious spirit of opposition to the mere expenditure of money, but from a serious apprehension of the mode in which it is proposed to raise the necessary amount, and to the future effects upon the financial legislation of the Colony. Looking however to the general question at issue, I do not doubt that you are correct in the views which you have expressed, and I have to convey to you Her Majesty's Gracious confirmation and allowance of the Ordinance No. 12 of 1866 "For imposing and regulating Stamp Duties in the Colony,”
In accordance with the request contained in your Despatch of the 10th September I have applied to the Lords Commissioners of the Treasury for a report from the Commissioners of Stamps upon the details of the Ordinance, and for a set of instructions and regulations which may assist you in its practical working. The Agents have also been instructed to procure and forward the Stamps and Dies which are specified in the Requisition which accompanied your Despatch.
I have received from the Chairman of the Oriental Bank Corporation a letter, of which I annex a copy, suggesting the expediency of exempting Bank Notes from the operation of the Ordinance.
I requested the Lords Commissioners of the Treasury to favor me with their opinion upon that suggestion, and I annex for your information a copy of their Lordships' reply and have to request you to furnish me with a report upon the subjects to which their Lordships refer. As the question of the exemption of Bank Notes, however, appears from the twentieth and three following paragraphs of your Despatch No. 119 to have been considered by you it is not intended on account of Mr. GORDON'S suggestion to delay the period at which the Ordinance shall come into operation, but you will not overlook the possibility of its being found advisable to modify the provisions which affect the issue of Bank Notes in Hongkong. I shall be glad to have your report on this point with the least possible delay.
I have the honor to be,
SIR,
Your most obedient humble servant,
(Signed,)
CARNARVON.
{
STAMP DUTIES.
THE RIGHT HONORABLE THE EARL OF CARNARVON,
TO
GOVERNOR SIR RICHARD GRAVES MACDONNELL, C.B.
Ang Kay
DOWNING STREET, 15th December, 1866.
138
SIR,
I have the honor to acknowledge the receipt of your Despatch No. 119 of the 10th September, enclosing the Ordinance No. 12 of 1866 for imposing and regulating Stamp Duties, together with copies of a Memorial and Protest against the measure, and a copy of your reply. I have also to acknowledge your further Despatch No. 132 of the 27th September, enclosing details of a publie meeting, and a Memorial from the Merchants at Amoy, and a copy of your reply, and also your Despatch No. 137 of the 15th October with another Memorial from the residents of Hongkong against the Ordinance.
I am glad to infer from your Despatches that the able answers which you have returned to the Memorialists are producing their effect upon the inhabitants of Hongkong.
I have carefully considered the objections made by the Memorialists to the Stamp Act, and your replies to them, and I readily believe that they do not proceed from any captious spirit of opposition Ito the mere expenditure of money, but from a serious apprehension of the mode in which it is proposed to raise the necessary amount, and to the future effects upon the financial legislation of the Colony. Looking however to the general question at issue, I do not doubt that you are correct in the views whic you have expressed, and I have to convey to you Her Majesty's Gracious confirmation and allowance of the Ordinance No. 12 of 1866 "For imposing and regulating Stamp Duties in the Colony,”
In accordance with the request contained in your Despatch of the 10th September I have applied to the Lords Commissioners of the Treasury for a report from the Commissioners of Stamps upon the details of the Ordinance, and for a set of instructions and regulations which may assist you in its practical working. The Agents have also been instructed to procure and forward the Stamps and Dies which are specified in the Requisition which accompanied your Despatch.
I have received from the Chairman of the Oriental Bank Corporation a letter, of which I annex
a copy, suggesting the expediency of exempting Bank Notes from the operation of the Ordinance.
I requested the Lords Commissioners of the Treasury to favor me with their opinion upon that suggestion, and I annex for your information a copy of their Lordships' reply and have to request you to furnish me with a report upon the subjects to which their Lordships refer. As the question of the exemption of Bank Notes, however, appears from the twentieth and three following paragraphs of your Despatch No. 119 to have been considered by you it is not intended on account of Mr. GORDON'S suggestion to delay the period at which the Ordinance shall come into operation, but you will not overlook the possibility of its being found advisable to modify the provisions which affect the issue of Bank Notes in Hongkong. I shall be glad to have your report on this point with the least possible delay.
I have the honor to be,
SIR,
Your most obedient humble servant,
(Signed,)
CARNARVON.
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