of the Crown through its Offices,
is prohibited and
that the
Colonial Government is bound
to
refuse
to recognize notes so issued.
If the notes are in the ordinary form they would probably be held in a
Law
to be valid promissory notes.
serving they are
not good Bank notes
those taking them would probably be able
to recover
them.
If the National Bank wish the Government to recognize
as Bank notes they
will either have to
have the issue sanctioned
in the same way
as the Hongkong & Shanghai Banking Corporation has
done, viz: by local Ordinance
(See Ordinance No. 5 of 1866 and No. 21 of 1882)
or by Royal Charter.
It is, from any point of view, surprising that this has not been done.
It is a high prerogative of the Crown to regulate the issue
of paper
and the Government
desire to stop this issue, it will, in my opinion be within the local Government's
right to do
so by legislation, from legal machinery. From what I have heard outside Hongkong
I believe that this note issue
has been regarded favourably by the Hongkong and Shanghai Bank
and before it is introduced
the sanction of the Secretary of State should be obtained.
4th June, 1894.
(87) A. I. Leach
Acting Attorney General
of the Crown through it's Offices,
is prohibited and
that the
Colomine Gammmment is bound
تا
refuse
so issued.
to
recognize notes
If the notes are in the ordinary form they would
Const probably be held in a
Law
ግ
noter.
to be valid promissory
cerving they are
aden 1
not good
Bank notes
those taking them would probably
be able
recones
第一
them.
If the National Bank wish the Governme
to reengnize
as Banks notes they
cheis Notes
will either have to
Sauctioned
it the issue.
921-
in the same way
as the Stongsong & Shanghai Banking Corporation
has
done, viz: by local Ordinance
(See Ordinance M. 5 of 186's and No. 21 of 1882)
by Royal Charter
und
389
it
from any point of view, surprising theat this has not
theen
It is
done.
high prerogative op
Croves to requlate the issue
and the Govern
stu
of paper
desire to stop this issue, it will.
in my opinion be witting the local Government's
to do
at's right
A
Ratingmeld
so by legislation, from legal machinery. From what I have heard outside havens
I believe that this note jeme.
مند
regarded favourably by the Stongdong and Shanghai Bank
and before
༩༦་ནས་་་ད་༡
vue KLIA
ary
is man htt
or interduced
the
I think the special sauch Secretary of State should be
obtained.
and
4th June, 1894.
(87) A. I. Leach
Acting Attorney Generel
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