Copy
15546
15
TREASURY CHAMBERS,
16th July 1915.
234
:
As die kopelin quinn jal
Sir,
The Lords Commissioners of His Majesty's Treasury have given careful consideration to your reports of the 29th May laet (T.L.382) and previous dates relative to the premium upon bank notes in Hong Kong over silver dollars, and They direct me to express Their regret that it has not been possible to reply on this subject at an earlier date. A copy of the new Bank agreement will be forwarded to you very shortly, its signature having been delayed pending consideration of the mouifications if any requiring to be made in view of the premium in question. In all the circumstances My Lords came to the conclusion on the one hand that it was impracticable in Treasury Chest transactions to do otherwise than sacept the de facte currency position in the Colony, while on the other hand They were unwilling to introduce into the banking Agreement any words which might be represented as oarrying an official recognition of the divoros between the legal and the ous- tomary currency arrangements of the Colony. In these oir- cumstances it has been decided to make no changes in the Banking Agreement in this respect, but I am to any that so long as the premium is maintained it is not desirable that the Agreement should be interpreted in a sense which would enable the Treasury Chest to insist on the acceptance by the
The Treasury Chest Officer,
Hong Kong.
Bant
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