CO129-128 - Public Offices & Others - 1867 — Page 365

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the Officer in Charge of the Treasury Chest, and without previously obtaining the sanction of this Board, of the advantages which their Lordships had afforded to the Colonial Government of making remittances by means of Treasury Bills

to the (rown Agents which had previously,

Cot at great inconvenience to the

Colony,

been made by mercantile Bills, to

remit sums

of money

which,

whenever

renvilled through the Treasury Chest,

had been paid in, in British

от

Foreign

I

am to

request, moreover, that

Coins, at the Army rate...

you will observe to the Secretary of State

that, although it may

seem at first sight

immaterial whether the Bills granted to

are on/

the Government of Hong Kong account of usual remittances to the Crown Agents previously made by mercantile Bills, or on account of.. remittances which have been generally. made through the Cheat as above stated,

Considerable diffe

there is in

reality

a

rence.

In the first instance, Bills are issued

to the Colonial Government which, if not

thus disposed of, would be sold to other

in the second,

parties at the same rate

they

;

are issued in exchange for dollar which would in all probability, if

the

that,