20
86
"" the system receives disastrous checks such as we have
recently reperionad.
I therefor consider that it is incumbent on the Committer to give this question most " serious attention and consideration, as an ample note Jesus
• free current of Frade, whicle a restricted one thells confusion and loss.
"
"
a
"If the Government will not allow the Banks concerned sufficient issue for the increasing requirements of the "Trade, then the note Proue
of the Banks should be Hong Kong Govrument issue sufficiens
" supplemented by "to moure full
Qu
accommodation.
M. Jackson - The Hong Kong and
Shanghai Bank has "head some correspondence on this subject both with the "Local Goossenurut and with the secretary of State for the Colonos - Complaint having been made of an excessive " note issue over the legalized amount during the early year, we have replied to the effect that this
circumstances, aud
"
44
months.
of
The
sxcess of issue.
was necessitated
by circe
at a great inconvenience and loss to the trade
4
our isser by the 30° June and
M
" prescribed livito-
G
५
are
we reduced
brought it within the we have pointed out to the Government that these liinito
quite inadequate to the requirements of the trade, and have made the proposal that for any excess of limit in our " issue of notes we are prepared to lodge silver " dollar for dollar in the custody of the Colonial "Treasures.
we are in hopes that the Geoorsment, " will listen favorably to this proporal.
He Vice Chairman then proposed that the proposal of
The Hong Kong & Shanghai Bank as submitted to the Government – viz: That the Bank be empowered
G
" to issue notes in excess of the limit on the condition
༦ ༣༠E. ༧, ༣༦ ག-མ ཤW སུ
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