CO129-286 - Acting Governor Major Gen Black Governor Sir Blake & Public Offices - 1898 [11-12] — Page 643

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and the establishment of a Government

Note Issue, as in the Straits Settle-

ments.

4.

If the former of these two

methods is decided upon I am disposed

es at present advised, and subject to

any objection you may raise, to allow

the Mero: ntile Bank of India, Itd. to

issue notes to an amount not exceeding

the paid up capital of the Company, and

subject to the same conditions as to

the deposit of security to the extent

of one third the total note issue, as

in the case of the Hong Kong and Shang-

hai Bank and the Chartered Bank of

India, Australia and China. I enclose

a copy of correspondence with the

Directors of the Mercantile Bank on

5. I need hardly myy however that a goot hote issue Suns to

be the preferably muthed and

this subject.

Lear

I shall,

be glad to

Tu t'e views of your Government