Page 527
Dear Mr Chamberlain
7, Cheyne Walk,
Chelsea,
22nd Nov, 1895.
527
I write to ask you kindly to consider whether you can see your way to advising or directing the Government of Hongkong to permit the notes of the National Bank of China (Limited) now in circulation to be accepted as cash at the various Government offices in that Colony.
The Ordinance of March 1895 prevents any existing or future Bank, other than a Chartered Bank, from issuing notes in future; and prevents the National Bank of China from increasing its present very small note issue of $450,000. The National Bank of China is moreover bound to satisfy and does satisfy the Government requirements as to gazetting monthly the average amount of notes in circulation and of specie in reserve in Hongkong during the month.
While, therefore, as regards its present note issue the National Bank of China is placed by the Colonial Government under the same restrictions and safeguards as the Chartered Banks, the Colonial Government refuses to the notes of the N. Bank of China the recognition which it nevertheless extends to those of the Chartered Banks viz. the Hongkong & Shanghai Bank, and the Chartered Bank of India Australia and China. I may add that the National Bank of China is the only non-chartered Bank which has a note issue.
This operates as an undeserved stigma on the notes of the National Bank of China; yet I feel convinced that if you were to enquire you would be satisfied that their notes are well received by the public and that it would be a public convenience that they should be received in the ordinary course of business at the various
( S )
gnu took jugutd., on aovlovak to1 VI(p) aw talw and the oada ww
but at ¶ al of omatrovíða „ of blow at duit sino turd,sijioni “VI
et wt 459 (10 tua movon add to Deviasut of hūroje autor are
wovtuac¶ *L, zo. * * * 18 ant al prontund 10 satron tatimo
.Hewi autorul in avidum,270.4!,eaqol allkurta dud
TWO juts Bionet of #I, ad £ftw 1von.IIo: K at ud attem
ol of OmQui ut av I
JAVIO Jnetbuto gaur muj
......4!,žað 10 Am7 Anoksak a mi
"logo la 1 05.0
(m2)
Dear Mr Chamberlain
7, Cheyne Walk,
Chelsea,
22nd Nov, 1895.
527
I write to ask you kindly to consider whether you can see your way to advising or directing the Government of Hongkong to permit the notes of the National Bank of China (Limited) now in circulation to be accepted as cash at the various Government offices in that Colony.
The Ordinance of March 1895 prevents any existing or future Bank, other than a Chartered Bank, from issuing notes in future; and prevents the National Bank of China from increasing its present very small note issue of $450,000. The National Bank of China ás moreover bound to satisfy and does satisfy the Government requirements as to gezetting monthly the average amount of notes in circulation and of specie in reserve in Hongkong during the month.
While, therefore, as regards its present note issue the National Bank of China is placed by the Colonial Goverment under the same restrictions and safeguards as the Chartered Banks, the Colonial Goverment refuses to the notes of the N. Bank of China the recogni- tion which it nevertheless extends to those of the Chartered Banks viz. the Hongkong & Shanghai Bank, and the Chartered Bank of India Australia and Chine. I may add that the National Bank of China is the only non chartered Bank which has a note issue.
This operates as an undeserved stigma on the notes of the National Bank of China; yet I feel convinced that if you were to enquire you would be satisfied that their notes are well received by the public and that it would be a public convenience that they should be received in the ordinary course of business at the various
No comments yet.
Private notes are available after approval.