CO129-173 - Sir Kennedy - 1876 [1-3] — Page 61

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would

it

increased supply, and so

go on from year to year to the great profit of the Banks and without advantage to the Government upon which pretense it is put in the plea that the object sought is the relief of local wants, though in truth

the benefit denied is

an

increase of exclusive Banking facilities in

in China generally

10.

I

would submit with M.

Anstey that it might be preferable for the Government to derive some advantage from the opportunity

thus in its

a large

way of satisfying

and increasing

local

mere

demand, instead of strengthening the hands of one particular Bank

I am aware, however, that although the principle of the issue of

Notes by

the Government is supported by such high Authorities as Mr. Gladstone and Sir Robert

Peel

so

very careful consideration must nevertheless be first given to the local conditions

of the Colony, before so novel a step could be adopted, and I

merely refer to Mr. Christie's suggestion

of

a

may possibly

be

that

investigation

be found to contain the elements