CO129-171 - Acting Governor Austin - 1875 [7-11] -- Sir Kennedy - 1875 [12] — Page 506

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed
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a proportionate bullion reserve being kept at Bank branch4 for the principal circulation - being relieved of any liability to hold bullion in excess of the value of its own notes, and I am to request that you be informed what Answer their Lordships would recommend should be returned to this Imperial Government.

It would appear from the early paragraphs of Mr. Austin's despatch that the Returns which have hitherto been published of the Bank Circulation do not include the circulation at the branches, & are therefore useless for testing with a view to the observance on the note issue of the limitations imposed by the 13th clause of the Ordinance, apparently it was apparently from incorrect returns of this nature as given in the Blue book that the figures quoted in the 2nd paragraph of my letter of 21st Nov 1876 relative to the issue of our dollar notes were taken from.

I am to express my Lord Commissioner's opinion that apart from the question of the proposed alteration of the law the present practice as regards publication of Circulation should certainly be amended.

PM.

Page 502

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a proportionate bullion reserve being kept at Bank branch4 for the principal circulation - being relieved of any liability to hold bullion in excess of the value of its own notes, and I am to request that you be informed what Answer their Lordships would recommend should be returned to this Imperial Government.It would appear from the early paragraphs of Mr. Austin's despatch that the Returns which have hitherto been published of the Bank Circulation do not include the circulation at the branches, & are therefore useless for testing with a view to the observance on the note issue of the limitations imposed by the 13th clause of the Ordinance, apparently it was apparently from incorrect returns of this nature as given in the Blue book that the figures quoted in the 2nd paragraph of my letter of 21st Nov 1876 relative to the issue of our dollar notes were taken from.I am to express my Lord Commissioner's opinion that apart from the question of the proposed alteration of the law the present practice as regards publication of Circulation should certainly be amended.PM.Page 502
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a proportionate bullion reserve being kept at lack brauch 4the principal Istatlistinal - being relieved of any liability to hold bullion in excess of End of its own notes, and I am to repent the informed what Answer their Lordships would recommend should be returned to this Imporal.It would appear fron the Carlicy paragrapher of Mr. Austais despatch that the Returns which havebee hitherto published ofthe Bank Circulation do not niclude the circulation at the branches, I are there fore useless testingthe with a view to the observance on the note iffutt of the limitations imposed byA the 13th clause of the Onlimmer,apparatly fit was apperently from miconfelete returns of this nature502 as given in the Cline brok that the figures quoted a the 2nd paragraph LAmy letter of 21th $10r 1876 relative to the iome of our dolley! notes were taken fram to express is Lord Camasoni Opinion that apart from the question ofther proposed alteratiofthe land the present practice as both. publication tr Circalation Should Certainty be amended.PMM.IT
2026-05-21 05:16:48 · Baseline
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a proportionate bullion

reserve being kept at lack brauch 4the principal Istatlistinal -

being relieved of any liability

to hold bullion in excess of End of its own notes, and I am to repent the

informed what Answer

their Lordships would recommend

should be returned to this

Imporal.

It would appear fron

the Carlicy paragrapher of

Mr. Austais despatch that the Returns which have bee hitherto published ofthe Bank Circulation do not

niclude the circulation at

the branches, I are there fore useless

testing

the

with a view to the observance

on the note iffutt

of the limitations imposed by

A

the 13th clause of the Onlimmer,

apparatly fit was apperently from micon

felete returns of this nature

502

as given in the Cline brok that the figures quoted a the 2nd paragraph

L

Amy

letter of 21th $10r 1876

relative to the iome of our dolley!

notes

were taken fram

to express is Lord Camasoni Opinion that apart from the question ofther proposed alterati

ofthe land the present practice

as both. publication tr Circalation Should Certainty be amended.

PMM.

IT

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