CO129-346 - Governor Sir Lugard - 1908 [1-3] — Page 281

has agreed not to put any

notes into circulation in

Hongkong,

hardly appear to

be necessary, concerned, to do

ask the 7.0.

ما

far

-

ad

than

Explain the

position to the Portuguese mun

saying

is

win

is

that the prohibition accordance with the law

of the Colony

การ

дж

the settles

policy

As regards the Canton notes I don't see what can be done

without also interfering with the Bank post bills. If any action is

to be taken it would seem best to

impose

slamp duty

or

all

such documents by removing the

promissory notes

&

that the

# 10 limit

<

making it clear

post bills

Cheming

ncluded

pechend

み

渠

1574

To a

Coversie & Fresh, beminding then the pro

Corressen, Fork fortheir obmous

In Stubbs

Remix Treasury Lt.

ONFIDENTIAL.

Hongkong.

My Lord,

yo.

-3978

1 Cote all

Cofs, do to f

C 0.

12004

REE 278

4 APR 08

Government House,

Hongkong, 6th. March, 1908.

I have the honour to acknowledge

the receipt of Your Lordship's Despatch No. 8 of the 7th.

January, forwarding a copy of a Despatch from the Portuguese

Minister on the subject of the prohibition at Hongkong of

Bank Notes of the Banco Nacional Ultramarino.

2.

The privilege of issuing Bank

Notes in this Colony is, as Your Lordship is aware, con-

-fined to the Hongkong and Shanghai Banking Corporation and

the Chartered Bank of India, Australia and China, subject

to the condition that coin or bullion must be deposited

against all issues in excess of a certain fixed amount.

In addition to these Banks the National Bank of China,

while having no power of issue, is permitted under Ordinance

No. 2 of 1895 to maintain a small circulation of notes

which were issued by it in the first instance without

alous

Dr. 16

?

D 11/6,

atmen All 145

RIGHT HONOURABLE

THE EARL OF ELGIN, K.G.,

&C.,

&C...

authority. All notes of the above-named institutions con-

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