CO129-217 - Governor Sir Bowen Administrator Marsh - 1884 [7-10] — Page 312

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{

Enclosure.

7818309

Report by the Colonial Treasure

The Crown Agents propose to

buy Bills at a month's sight at the

rate of 3/4 1/4, whereas here we can

·.get Bill's at 4 iconthe sight @ 2/gd. We should lose over $1.000.

on this

trausaction, recouping only $300 or $400 in Interest . I submit that the

following Telegram be xeut : _

"We can remil on better terms.

"Will remit £10,000 by Mail of October 2

I think this Telegram should be followed by a Despatch explaining that a further Remittance of £10,000 will be sent in November, and.

that Bill at four months are.. bought because

we ucake more on

Exchange than we lose on Discount.

I would also.

urge

that the Secretary.

of