CO129-129 - Sir MacDonnell - 1868 [1-3] — Page 442

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degislation but I apprehend that such concepion here would interfere with the frights of the Oriental Bank

conceded

ed by Kayal bharter

in

as al

abandy

1852-

which exerneply granted the privilege fof issuing notes here to the Oriental

Bank without

any

reserve as to the

powers of the local Legislature. That

Charter also makes all its

provisions binding

on the Governor of Hongtrong. The batter

سند

therefore could not possibly introduce an Ordinance abolishing such privilege favor of a rival Bank, whilst Ordinance,

even

any such if paped, could not be confinned by the Sovereign who had

granted the privilege

and confinned it

7. Under these circumstances, therefore, I see no chance of the offer being amiluble

as

I

for the continuance of the Maint, undust and distinctly from the Manager

of the Hongkong and Shanghai Bank that the offer is made entirely contingent

acceptance of that condition.

8. I very much

much requt this. As

this as I had

hoped that something feasible might have tumed up from recent discufpions

in favor of the Mint, and it is

anything but satisfactory to have to

P

forego the prospect of that establishment being maintimed for five years longer

without

any

cost

on

at least with but

slight cost to the balony.

by charter.

9.

At the same time there seems a