CO129-168 - Sir Kennedy - 1874 [9-12] — Page 738

the

Met die

Kennedy's despatch of the poi

of April it is stated that-

of these notes

circulation

was about $175,000, the totul circulation of the Bank

according to the Hongkong

Bhe book has averaged in

1070 $1324.664, in 1871 $145€,870

hi 1872 $1243,803

-1873/$ 1,529,170.

3. Lord Carnarvon

has not-

before him the letter in which

permission

on was given by the

Governor for the issue of them

hotes but he presumes from

Sir A. Kennedy's despatch 4o

46 of the 2nd of July 1871⁄2

that no special termo

were

imposed with reference to this

while retaining them pinion that the

ipe

has unadvisälle

argoping with

731

isane, the Corporation being of cource bound by the limitation ofisse prescribed by the

13th claves of the Ordinance

incorporating it.

4.

Lord Carnaron interprets

understands

you letter to mean that

In the present-circunctance of the Colonial Curreng their Lordships will not

insist on the withdrawal

already pland of the notes (in circulation & that with the "wift- before their hough they deprecats ang would disoffrom any extension of the permission,

but Lord Carnarvon would

be glad & have beir Lordships' concurrence

in

the existinctions to be sent

to be cont