CO129-397 - Public Offices & Others - 1912 — Page 90

25277/H. Kong

27 AUG D.

89

Draft.

The Sec. to

The Treas.

Mr. Collins

Сори

to to L. C. the Trem.

Copy Gov Conf 20 Sept. Treas: 27835

Awad, 27884-

Sir,

2.8

Aug. B

I am directed by Mr. Sec. H. to ack. the

receipt of your letters No. 1068 and No.

15880 of the 10th inst. with regard to the

issue of one dollar notes in H.Kong.

W

Mr. H. will not consult the Gov. of H.

Kong before making further observations on

Govt.

his proposal to issue notes of low denomi-

nation in exchange for subsidiary coin. Hut in

the mean time, as it is clear that the re

is a demand for an increase in the number of

1 dollar notes in the Colony, he recommends

that the H.X. and S. Banking Corporation should

be permitted to increase their issue of dollar

notes from 226,000 to 350,000, on the condi-

tions now obataining with regard to these notes,

including the obligation of unconditional

withdrawal from circulation should the Govt.

of the Colony decide to issue small notes of

lower denomination than 6 dollars.

The Govt. would of course treat the Bank

with consideration should it be decided ult

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