CO129-342 - Governor Lugard & Public Offices - 1907 [11-12] — Page 422

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that the increased issue is required not for the convenience of the public, but to enable the Bank to compete more effectively with foreign Banks of issue. If the issues

of the foreign Banks are not adequately secured, the keen competition to which the Governor refers cannot be unattended with danger, in view of which especial care should be taken to ensure the provision of ample security by a Bank operating under powers conferred by the Government of the Colony.

I am,

Sir,

Your obedient servant,

Euttamilion