CO129-171 - Acting Governor Austin - 1875 [7-11] -- Sir Kennedy - 1875 [12] — Page 504

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed
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500

Helmas

HAR

circulation, whilst the Notes of the Hongkong and Shanghai Bank must be in the equivalent of $5 the multiples thereof, and are payable as well at the branches at which they are issued as at the principal Establishments or in the currency of Hongkong. Independant, too, of the Bullion kept for safety at the Branches a reserve equal to the general issue must also be kept at Hongkong.

6.

This place is at an unfair advantage compared with other local Banks, and I would, therefore, suggest to Your Lordship the expediency of such changes in the Law as will appropriate the portions of the Bank Establishments in Hongkong, China and Japan - that is :-

by causing the branch notes of the Hongkong & Shanghai Bank to be payable at the branches only in local currency; by making it compulsory to keep a bullion reserve at each branch proportioned to its Note circulation; by relieving the principal Establishment of any liabilities to hold a reserve in excess of its own bullion "Notes; and by requiring, as suggested by Mr. Gring, that the Note and

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500 Helmas HAR circulation, whilst the Notes of the Hongkong and Shanghai Bank must be in the equivalent of $5 the multiples thereof, and are payable as well at the branches at which they are issued as at the principal Establishments or in the currency of Hongkong. Independant, too, of the Bullion kept for safety at the Branches a reserve equal to the general issue must also be kept at Hongkong. 6. This place is at an unfair advantage compared with other local Banks, and I would, therefore, suggest to Your Lordship the expediency of such changes in the Law as will appropriate the portions of the Bank Establishments in Hongkong, China and Japan - that is :- by causing the branch notes of the Hongkong & Shanghai Bank to be payable at the branches only in local currency; by making it compulsory to keep a bullion reserve at each branch proportioned to its Note circulation; by relieving the principal Establishment of any liabilities to hold a reserve in excess of its own bullion "Notes; and by requiring, as suggested by Mr. Gring, that the Note and
Baseline (Original)
500 але Helmas HAR circulation, whilst the Noles of the Alongling and Shanghai Banke must be in the equivalent of $.5 the multiples thereof, and e payable as well at the branches at which they are ifeud as at the principal Establishments ar in the evrency of Aurghting. Independant, too, of the Bullion Kept for safely at the Branches reserve equal to the general ifare must also be a Kept at Hongling. 6. Bank This plac places me aw third local Baute at an unfair advantage compared with other, and I would, therefore, engget to Your No Inse Air- as will Lordship the erepedienery of such changes in the Law afpicuitate the portions of the Bank Establishments in Wong long. China and Japan - that is :- Jo by causing the brauch note the Noughing & Shanghai Baute to be pouble juble at the branches only in local a canpubay reserve currency- by making it impulsory to keep a bullion roseuse at each brauch proportioned to its Note circulation - by relieving the principal. Establishment of any liabilities to hold; reserve in excess of a its now bullions "Notes- and by requiring as anggested. by Mr. Gring that the Note and
2026-05-21 05:16:37 · Baseline
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500

але

Helmas

HAR

circulation, whilst the Noles of the Alongling and Shanghai Banke must be in the equivalent of $.5 the multiples thereof, and e payable as well at the branches at which they are ifeud as at the principal Establishments ar in the evrency of Aurghting. Independant, too, of the Bullion Kept for safely at the Branches

reserve equal to the general ifare must also be

a

Kept at Hongling.

6.

Bank

This plac

places

me

aw

third

local

Baute at an unfair advantage compared with other, and I

would, therefore, engget to Your

No

Inse

Air-

as will

Lordship the erepedienery of such changes in the Law afpicuitate the portions of the

Bank

Establishments in Wong long.

China and Japan - that is :-

Jo

by causing the brauch note the Noughing & Shanghai Baute to be pouble

juble at the branches only in local a

canpubay

reserve

currency- by making

it

impulsory to keep a bullion roseuse at each brauch proportioned to its Note circulation - by relieving the principal.

Establishment of

any

liabilities to hold;

reserve in excess of a

its now

bullions

"Notes- and by requiring as anggested. by Mr. Gring that the Note and

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