CO129-284 - Acting Governor Major Gen Black - 1898 [7-8] — Page 252

to the satisfaction of the Colonial

Secretary and the which affears to

Mme

Colonial Tre

asurer;"

todefeat the

merrily Ishould part this

whole intention of the so

excess

defait.

out in submitting the Orday to the

the s. ofs. proposes

Treasury, and sey

to duiet amendment in this particulas.

W Cox

A. F

17/9

S

These paper, han prenmil been miniated the huecar & yourself. I aper with In Fiddian that this cames out the arrangerente pupsend and approved with the important exception that instead of the dollars to the full amount of the

being deposited in the Colonial Treasury, the vew 'I 13 (2) provides that they shale be deposited & Refpt at the Head office of the Combay in Hong Kong, to the Satisfaction of the Colonial

in seas

Jer

the Colonial Treasurer

f

at whe

I should wingine?

J

Mowingfield

the

•

Hiw 7/10

This will cot do

Shiny

supported above.

I think that subsection (2) does not sufficiently protect Gost. It is true that if the gost had the mone paid over in cash they wooned instead greeping it at the Treasury probably deposit it at the Bank or part At at the Hongkong Shanghai Bank opartat He National Bank, but in that case

the money world be

primarily in the custody of the got thack deprinted with the bank. This section makes the bank keep the money as then own money subject to its being not allowed to be moed during the pence of the secen sorte issue. It is onls be difficult to check What they do with it. If suddenly called on for dilver by might use it & ty opt permission returs bectives.

is the actual deport with the gost

o

What is wanted

the comms semain in the possession of the Gost out of the sack of the Belle or its control? Poder

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6464--3000-6-98

250

I think there should be a provision

payback,

empowering the Got to pay back coin When the note issue has been reduced from time to time as require don satisfacty proof of such reduction. Alpresent here seems no way provided frgetter the money

back.

getting

? Refert Treasury noting the

above points?

ABC

you.

This crdinance does not cany

out the mistructions of the Soy State which Though the telegram perhaps too

Contin

was

hi to have been sufficient

oright

intelligible-

(1) The cation to require the Bank h

proposals approved of the blegram-

that for the additional note ipure

and alm the amount

dettarr

が

The paid up capital

www

is orn

in the heal amount should to deposited. in the Colonial Treasury

the Ordinance privades.

that coon and billion equal to the ereed isme stall be deposited and kept at the head office of the bank inthent earmarking it as security,

Rote kilders -

for

(2) the ordinance was to combody the existing

азнения which at present oneref rests on the undertaking g the priceless that apprond securities to the amount o the one third of the authorized arte ifrue (c. cofthe paid of

note capital) by deposited wither at Hry Karyanadia Mes Cl test & lil Treamer or in Londen

with the (Agents & Permanent U Igs for the Colenies

几个

Ruestion to be held as security pro tante for the notabelions

this part of the instruction has her simply

inned -

sending any of the arts & Theasury over prepre to point out the spend the mission and direct the Sort to prove the enactment

an amended ordinance.

ated EN 150

Z