CO129-429 - Public Offices & Others - 1915 — Page 233

Į

(10974 fara 41

An increase of notes is not likely to remedy the exchange: in fact astis should be withdrawn if Kade is

stagnant, (

kos Lenty unless other are then reson

for water being at

a

premium) An increase

at present will only make

more silver

idle

Whether

bank-vaults or

elsewhere,

aud

Fend

6

par

all-noti

Currency: for

better than the

the adds, being esteemed as

silver

"will take the place of silver previously circulating

Amit operate.

The only alternative possibility

is

that ther

notes will become discredited - which

aobody wants.

? send Treasury city of 108740

ству

desf. on it, pointing out that a further

despatch in

expected.

and send this out to

STB

9/7/15

Gov.

27 cos.

Next h.

---יורי--

J. Andrum

Andoors below

विट

hi total issue k + s k k

X U. AND, OTO

Ch. B.

•$8,000,000 there. to. Amoment haid up capital. 62, too wr

Sir J. Anderson

231

I asked Mr. Beckett to find out from

the Treas. the meaning of marked passage on p.

2. See private letter now received from Treas.

Mr. Stabb's memo. in 33818 explains the whole

800

situation more clearly than any other paper

last page as to their loss on silver when the cur-!

rency Contracts.

The only remedies I can suggest are

(1) the exemption of the excess note issue from

the present 1% tax.

(2) authorizing a special issue of Bank notes ag-'

ainst War Loan securities to be deposited with

C.A.

Will you please look at these papers and then

send for me?

Ave

27.7.

(1) Is the 1%/% tax payable me the

Total sssue or auf.

?

security t

in the insul

egained

may

(2) What is the aureos which. be mined before the best condition, Follar for dollar comes rite blay ? Each of the Banks of Jesus.

in the case of

Does the Mercantile H issue hober? 524,280 m 1 Janild? MM

UG 27.7.15.

£1,324,250

Our

2