CO129-212 - Governor Sir Bowen - 1883 [10-11] — Page 54

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed
Series Prev Next

There are Chartered Banks. I cannot say that any copies of the Charters of the three Chartered Banks are on record, but it may, I think, be taken for granted that they are all framed on the lines laid down in the Colonial Instructions, on which also the local Ordinance regulating the Hong and Shanghai Bank is modelled. All these Banks are allowed to circulate notes to an amount not exceeding paid-up capital, on keeping of the amount of note circulation in reserve in specie. This regulation has been always enforced here by monthly actual inspections of the Bank's Premises. It is a somewhat weak point in the system that we have to take the Bank's word for what the circulation of notes is in each case, but I am not aware that any inconvenience has ever happened from this, and the specie reserve is generally well in excess of the amount required.

3. Of these four Banks there can be little doubt that the Hong Kong and Shanghai Bank is the most prosperous. An entirely local company, it is doing a good business, and, having audited its accounts last year, I have little hesitation in saying that it occupies a very strong position.

4. The Chartered Bank of India comes next in stability, if the market...

Page 53

Edit History

2026-05-23 22:59:26 · NVIDIA / meta/llama-4-maverick-17b-128e-instruct
Live
View comparison
AI Proofread
There are Chartered Banks. I cannot say that any copies of the Charters of the three Chartered Banks are on record, but it may, I think, be taken for granted that they are all framed on the lines laid down in the Colonial Instructions, on which also the local Ordinance regulating the Hong and Shanghai Bank is modelled. All these Banks are allowed to circulate notes to an amount not exceeding paid-up capital, on keeping of the amount of note circulation in reserve in specie. This regulation has been always enforced here by monthly actual inspections of the Bank's Premises. It is a somewhat weak point in the system that we have to take the Bank's word for what the circulation of notes is in each case, but I am not aware that any inconvenience has ever happened from this, and the specie reserve is generally well in excess of the amount required. 3. Of these four Banks there can be little doubt that the Hong Kong and Shanghai Bank is the most prosperous. An entirely local company, it is doing a good business, and, having audited its accounts last year, I have little hesitation in saying that it occupies a very strong position. 4. The Chartered Bank of India comes next in stability, if the market... Page 53
Baseline (Original)
thres by charters. I cannot disems that any copies of the Charters of the thick Chartered Banks are on noord, but it may, I think, be taken for granted that they an all framed on the line's laid down in the Colonial Instructions, on which also the local Orclinaner regulating the thong Hong and Shanghai Bank is modelled. All there Barks are allowed to circulater notes kan amount not exceeding paid up capital, on keeping of the amount of note circulations in Known in specie. This regulation has r ther our third been always enforced here by monthly actual inspections of the Bank's Prasinis . It is a somewhat weake point 53 point in the systine that we have to take the Bank's word for what the circulation Z notes is in cach case, but d'am not aware that any inconveniener has was happened from this, and the spear Estuve is grusally well in exeres 7 the amount requine. 3. (of these four Banks then can be little dribt that the Hong thongs and Shanghai Bank is the most prosperous. An entirely beal conspang it is doing a good business, and, hading. Audited ito accounts last year, I have littler hentatione in saying that itat prout occupis a very strong position 4. The Chartered Bank of India comes next wi stabil stability, if the Market
2026-05-23 22:59:26 · Baseline
View content

thres by charters. I cannot disems that any copies of the Charters of the thick

Chartered Banks are on noord, but it may, I think, be taken for granted that they

an all framed

on the line's laid down in the Colonial Instructions, on which also the local Orclinaner regulating the thong Hong and Shanghai Bank is modelled. All there Barks are allowed to circulater notes kan amount not exceeding paid up capital, on keeping of the amount of note circulations in Known in specie. This regulation has

r

ther

our third

been always enforced here by monthly actual inspections of the Bank's

Prasinis . It is a somewhat weake

point

53

point in the systine that we have to

take the Bank's word for what the

circulation

Z

notes is in cach case,

but d'am not aware that

any

inconveniener has was happened from this, and the spear Estuve is grusally

well in exeres

7

the amount requine.

3. (of these four Banks then can be little dribt that the Hong thongs and Shanghai Bank is the most prosperous. An entirely beal conspang it is doing a good business, and, hading. Audited ito accounts last year, I have littler hentatione in saying

that itat

prout occupis a very strong position

4. The Chartered Bank of

India comes next wi stabil

stability, if the

Market

Comments

Approved members can add comments, bookmarks, and private notes.

No comments yet.

Private Research Note

Private notes are available after approval.