CO129-216 - Governor Sir Bowen - 1884 [5-6] — Page 437

2. Their Lordships will observe that the proportions

of the scheme

are much

reduced by the Reportof

the Financial Committee

of the thing key. Comcil, dated of the 22th of May last, which forms the 2wd Enclosure of Sir J. Bowen's despatch; for that Report states that the issue of 181 notes, if unlimited, would probably never exceed $400,000

o $500,000,

the area

and that

issue would

of issue

be emfined, whereas

hitherto it has been-

naged that such an isome

would be

ver

extensivel

used, and even in Now?

#

Enc. I. p.42

436

last the Colonial Treasurer

considered it might be

advantageously extended

to 161,500,000

3. The Report also

shews the urgent necessit

of a full metallic depent

CA

against the notes, suggested by the Treasurz, but proposes that, insted of fovernment taking up the scheme, the Hongking Shanghai Bank should

be allowed to extend their present issue of 181 noter, issuing as many or may be required, upon an

metallic basis.

suteres

conceives

4. Lord do they direct ma

to