CO129-218 - Administrator Marsh Governor Sir Bowen & Others - 1884 [11-12] — Page 224

if it

were a

question of the details of a scheme for a for !" Savings Bank; but

as this Ordinance is one

Ew

ho

For relating to

we

should

a hot a private Bank, Immagine consult the Treasury, for

to refer

t

it

Department;

necessary unted but deutrung that to such reference Weply, hish you will see that this necessary. Bank is giving 34 per cent interest. This

der

I would

Real

ir fore. Ja

most press these the

in the rate now adopted by the Mauritius of igat for! Savings Bank (which formerly gave

4 per cent,

Ree 180

1802254)

The

rate given by the Straits for. Savrings Bank is 4 per cent, but there is a desire to raise it to 5 per cent (see Report on the year 188 2 in 12501) the corresp. which led to the fruiting Ord. in the Straits on the subject will be found (in print) attached to 369. This rate of interest,

3693/79

at Hkuns interest is not so

A

favorable therefore as perhaps it might

be; and Jeee no reason

give its sanction

sales rate.

By

why for shie

approval of the

The most serions point is (referred

to in M. Bramstors muinte

that the Bank gives

no special security

For the Deposits, &'in such

318.

* the Cal

serewe

wils butts Whi

purfer that

they neut

sthad a ther p

Ew

nature

of a

would

Private Bill, which requires

the necessitate compliance with 221

certain formalities that do not seem to have been carried out? (see on 2602 but it is perhaps un

to refer to this As the Bank has already done madt a start in the matter, it will perhaps not

necessary

be well at present to HtKemp for

its own;

53-41

wage press the & to start a Savings Bank of

we can consider that point in the event of the Atking Shanghai Bank change in its arrangement. making any

acknowledging this & des. 27 3 (in 156021

? Reply that while it would be unpossibl Even if desirable, to prevent a Bank receiving small deficits on interent for that very reason no Officis required and it'

Home appears

sanction to the rules under which a Bank does lo

fo for to give any

expecially when those rules do not

special security for ther

masmuch as

provide any

deposits

for

lic a fallacions

sauction gives the public a

and further

notion of security do objectionts

that there is organ riding

and danger

panan

to allowing free portage

to letters

not addressed to or sent from for departments; and again no

Jon 954)

A

case of

surely

a case

fort should not give the Bank the

of for approval & rate advantage of its prestige gamed under this Ordinance.

Again is not the Ordinance almost of the

anffiment

reason

Exist in the

a private Bank for

granting the second facilit freedom from stamp duty on certain documents; and consequently

on all these grounds, disallow

the Ordinance

P.W.I.27rl.

End Web

ought

J

agrea

the Government

het b