In the reply to this Letter the following Number should be quoted.
C4368
06
REC
CO
31201
(REG 25 AUG 06
TREASURY CHAMBERS,
August 1906.
The Lords Commissioners of His Majesty's Treasury have had before Them Mr. Bertran Cox's letter of the 1st instant (27178/1906), with the copy which accompanied it of a letter from the Manager of the National Bank of China, Limited, on the subject of their note issue at Hong Kong, and They direct me to submit the following reply for the consideration of the Secretary of State.
The Bank asks that the Government Offices in Hong Kong may be authorised to accept its notes, and are prepared to agree to the condition that securities to the extent of one-third of the total issue of the Bank's notes (which is stated at present to amount to $450,000) should be deposited with the Colonial Government. The Bank also asks that the extension of its note issue may be authorised from $450,000 to $1,000,000.
It appears to My Lords that, as the National Bank is legally issuing its notes up to the present limit in Hong Kong, the decision whether the notes should or should not be accepted by the Government Departments would depend on whether they are thoroughly safe.
The Under Secretary of State,
Colonial Office.
T
لفة المعادل شيته العلمي الامام مالك
In the reply to this Letter the following Number should be quoted.
C4368
06
REC
CO
31201
(REG 25 AUG 06
TREASURY CHAMBERS,
nd
Sir,
久久
August 1906.
651
The Lords Commissioners of His Majesty's Treasury
have had before Them Mr. Bertran Cox's letter of the 1st
MO instant (27178/1906), with the copy which accompanied it
of a letter from the Manager of the National Bank of China.
Limited, on the subject of their note issue at Hong Kong,
and They direct me to submit the following reply for the
consideration of the Secretary of State.
The Bank asks that the Government Offices in
Hong Kong may be authorised to accept its notes, and (5 prepared to agree to the condition that securities to the
extent of one-third of the total issue of the Bank's notes
(which is stated at present to amount to $450,000) should
be deposited with the Colonial Government. The Bank
also asks that the extension of its note issue may be
authorised from $450,000 to $1,000,000.
It appears to My Lords that, as the National Bank
is legally issuing its notes up to the present limit in
Hong Kong, the decision whether the notes should or should
not be accepted by the Government Departments would depend
on whether they are thoroughly safe. The Secretary of
The Under Secretary of State,
Colonial Office.
State
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