CO129-129 - Sir MacDonnell - 1868 [1-3] — Page 448

}

446

گی

to organize joint action in the matter on the part of the various Banking Institutions represented in the Colony, I have

now the honor to submit, with

the sanction and by eider of the Court- of Directors of my Corpention, the following proposition :

1. The Hong Kong & Shanghai Bronking Corporation de hereby

undertake to contribute a sum not

seceding Sixty thousand dollars ($60,000.-) per annum towards defraying the mecessary expenses of the Hongthong Mint, for a period of five years, subject to the conditions enumerated hereafter.

2. The Keint to be kept,

under Government supervision, in working order for coining from twenty

to twenty five thousand dollars daily,

proportionate amount

subsidiary coinage

and

OR

3. The Bank to have the exclusive control of the coinage. profits accruing therefrom, with power. to raise the signerage. dollars to 27/10 per cent (premetting charges included ) ; to sugulate issue of subsidiary

undertake

any

the

coms and to

lawful work on

on accord

of feinign Government's upon such terms

they may

think proper.

4. The Government to study

in

concert with the Bank the oneans