CO129-363 - Public Offices & Others - 1909 — Page 423

Downing Street,

30th January, 1899.

422

sir,

I am directed by Mr. Secretary Chamberlain to request that

you will inform your Directors that he has had under his consideration

your letter of the 26th August last, applying for the renewal of the

privilege of a Note Issue in Hong Kong and the Straits Settlements

which was enjoyed by the Chartered Mercantile Bank.

2. I am to observe that Mr. Chamberlain is unable to

accede to your request as regards the Straits Settlements, as a

Government Note Issue is being introduced into that Colony,

and although the Issues of Banks which at present possess the

privilege will not be interfered with, there can be no question

of extending to another Bank the right of issuing Notes for

circulation in the Colony.

3. As regards Hong Kong, the question of a Government Note

Issue is under consideration, and a further communication will be

addressed to you when that question is settled.

I am, Sir,

Your obedient Servant,

(Signed)

H. Bertram Cox.

The Chief Manager of the

Mercantile Bank of India, Limited.