It appears from the Memoranda at p. 4 of Enc. in 17715, 18790 and 100 that at the beginning of 1870, every month $70,000 was wanted for fragments of salaries & contingencies, every quarter $73,000, about $60,000 will be wanted for military contribution in future probable, apart from Crown Agents' requirements) the current account to the maximum at the time so far drawings $100,15790 the amount concerned need not much exceed $100,000.
It appears on the other hand that the receipts in Hong Kong are for Crown Rents half-yearly about $80,000, Lighting Rates for Police and other sundry receipts, so far as they are concerned, no very large amount over and above this is the quarter, quarter accounts coming in at dates, at the same time, and it might easily be arranged to reduce these by telling Regents to draw at such times as to coincide with the special large receipts, though it may be somewhat in a strain.
This Agent's requirements - the money which the Agents themselves get in advance being placed on deposit at 7 days' notice, for which interest at about 1 per cent below Bank rate of discount can always be obtained; which latterly has been more than the 2 per cent which they get on current balance in Hongkong.
The Agent's requirements for subsidiary coins alone amount to from $1,000,000 to $1,200,000 a year and I cannot see why they should not draw at least $100,000 every month, drawings being made at fixed dates, so that the Hongkong Treasurer could always meet them without fluctuations in current account, knowing the dates beforehand he could always give the required notice to the Bank in question. In that way there need never be so large a draft as $78302.022 [see p.4 of Enc. in 15790] to meet at one time, & consequents so much money on hand.
The Agents have now in hand an order for $183,000 of coin to arrive in Jan next.
Page 94
It
94.
appears from the Memoranda at pr. 4 of Enc. in 17715, 18790 and 100 that at the beginning of 170, Every month. A 70,000
in wanted
for fragments of salaries & contingencies,
every
& at beginning off warz quarte
ted for X 7730,00 about $60,000 will be.
will be wanted fr
quilitary contribution in future probable, apart from Crown Agenti requirements) the
urrent ac!
cur
to) the maxin
it me time
nt to
t so far
07
2
drawings
+ $100
15790
the mat am concerned need not much
А
exceed $100,
It appears in
larze
the other hand
the Bantas
octasunak
that the receipts in
are
for frown Rents half gearly
80
abuit out!
Lighting Rater #
rec
for Police and
Jifts
to that so far them
no very larze
over aff this is the
quarter, quarter
are Cancerned
ounts comme
payment Militay
in at dites,
at the same time, and it might Easily be arranged to reduce these
by telling Regents
almost at once
تسمعة
to draw at such times as to coincide the special lave receipts, though it
may
be somewhat in a drame.
this Agents requirements - the money which thee Agents thems get in advance
being placed on deposit at 7days notice.
for which interest at about 1 per cent below
Bank rate of discount can alway the
Ma by
N
(
20
An H King Treasurer
demurs to
arranging
meet them
Drafts from Spirits whereth might get
meantion: won than
2 percent
Such untered
obtained; which latterly 113
las
<
average
been mon
than the 2 percent which they get
current balance,
in Hongkang.
the Agents requirements
for subsidiary
com alone.
amant to from $1,000,
to $1,200,000
a
zear
000
and I cannot see why
Mer
should not draw at
leash $100,
*
being
more
000 Every mouth,
cermin zei
mon
froch drawings of possible tioned at fixed date, so that the Akang
could always
Treasurer
Z
meet them wither Frislagchanges in
count inopore Current act sit accounts
mind
يه
Q
knowing
the dates beforehand he coul) always give
the required notice
to the Bank in question. that way
In
there need never be 11 of the Agents
so larze a draft of
an
78302.
022
[see p.topEnc. meet at are time, & 15790] to meet at are cmsequents
so much money,
necessity thave.
hand.
now in
The Agents have now hand
order for 18350, o
CLA
000
of coin to arrive in Jan "next_
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