CO129-295 - Public Offices - 1899 — Page 218

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed

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The reply to this Letter the following

Number should be quoted.

9321

C.O.

14607/216

RECR

Reof 10 JUN 19

TREASURY CHAMBERS,

9 June 1899.

Sir,

I have laid before the Lords Commissioners of

Her Majesty's Treasury Mr Lucas' letter of the 3rd instant (12274/99) and its enclosures relative to the note issues

in Hong Kong.

It appears that the Government note issue in the Straits Settlements has only recently begun to circulate, and that sufficient time has not yet elapsed from its inauguration to show whether the notes of the Hong Kong and Shanghae Banking Corporation which will be withdrawn from the Straits and issued at Hong Kong will be sufficient to

meet the requirements of the latter Colony.

In these circumstances, the Secretary of State

proposes not to renew, after the 31st proximo, the special arrangement under which the Hong Kong and Shanghae Bank

is enabled to issue such additional notes as may be required,

but instead to confer a power of issue, under proper

guarantees, upon the Mercantile Bank of India. My Lords

have not before Them the correspondence with the Directors

of the Mercantile Bank, which was referred to in the

Colonial Office despatch of the 30th January last, but

subject to anything which may have passed between the Colonial Office and the Bank, They are not disposed to regard

Under Secretary of State,

The

Colonial Office.

Foreign

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The reply to this Letter the following Number should be quoted. 9321 99 C.O. 14607/216 RECR Reof 10 JUN 19 TREASURY CHAMBERS, 9 June 1899. Sir, I have laid before the Lords Commissioners of Her Majesty's Treasury Mr Lucas' letter of the 3rd instant (12274/99) and its enclosures relative to the note issues in Hong Kong. It appears that the Government note issue in the Straits Settlements has only recently begun to circulate, and that sufficient time has not yet elapsed from its inauguration to show whether the notes of the Hong Kong and Shanghae Banking Corporation which will be withdrawn from the Straits and issued at Hong Kong will be sufficient to meet the requirements of the latter Colony. In these circumstances, the Secretary of State proposes not to renew, after the 31st proximo, the special arrangement under which the Hong Kong and Shanghae Bank is enabled to issue such additional notes as may be required, but instead to confer a power of issue, under proper guarantees, upon the Mercantile Bank of India. My Lords have not before Them the correspondence with the Directors of the Mercantile Bank, which was referred to in the Colonial Office despatch of the 30th January last, but subject to anything which may have passed between the Colonial Office and the Bank, They are not disposed to regard Under Secretary of State, The Colonial Office. Foreign

Baseline (Original)

The reply to this Letter the following Number should be quoted. 9321 99 C.O. 14607216 RECR Reof 10 JUN 19 TREASURY CHAMBERS, 9 June 1899. Sir, ¿ I have laid before the Lords Commissioners of Her Majesty's Treasury Mr Lucas' letter of the 3rd instant (12274/99) and its enclosures relative to the note issues in Hong Kong. It appears that the Government note issue in the Straits Settlements has only recently begun to circulate, and that sufficient time has not yet elapsed from its inauguration to show whether the notes of the Hong Kong and Shanghae Banking Corporation which will be withdrawn from the Straits and issued at Hong Kong will be sufficient to meet the requirements of the latter Colony. In these circumstances, the Secretary of State proposes not to renew, after the 31st proximo, the special arrangement under which the Hong Kong and Shanghae Bank is enabled to issue such additional notes as may be required, but instead to confer a power of issue, under proper guarantees, upon the Mercantile Bank of India. My Lords have not before Them the correspondence with the Directors of the Mercantile Bank, which was referred to in the Colonial Office despatch of the 30th January last, but subject to anything which may have passed between the Colonial Office and the Bank, They are not disposed to regard nder Secretary of State, { the Colonial Office. Foreign

2026-05-31 12:00:33 · Baseline

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