CO129-290 - Governor Sir Blake - 1899 [1-4] — Page 536

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RECO to Here TE MAY

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Goverment House,

th

HongKong, April, 1899.

sir,

In reply to your despatch No. 25 of the

30th. January last, I have the honour to state that I have con-

sulted the Chairman of the Chamber of Commerce, the Chief Ma-

nager of the HongKong and Shanghai Bank, the Manager of the

Chartered Bank of India, Australia and China and other promi-

nent business representatives and am informed that there is

no scarcity of Bank notes in the Colony at present and that

in the event of the supply being found insufficient at any fu-

ture time the HongKong and Shanghai Bank is prepared to issue

notes to any amount required.

2. Should there be any scarcity of notes,

there is no objection, so far as I can ascertain, among the

mercantile community to the issue of Bank notes by the Mercan-

tile Bank of India,Limited, It might, however, be advisable

to watch the result of the Government note issue in the Straits

Settlements before giving authority for any further note is-

sue by private Banks.

3. Should the result be successful, it

may then be a matter for consideration whether the revenue

Right Honourable

JOSEPH CHAMBERLAIN,

BcC.

10.

M. P..

might