CO129-484 - Governor Sir Stubbs - 1924 [1-7] — Page 8

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JOWMZA II' Jane'

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sallied Ti zasu

(the Juntah dite est to zattal way to dŋteoex is aw I

mikkatīt par sakt: tot,benoituen: serumo Juus

treme 1,1l sea of bellao 1 yabredest taka erair dog th

best rumen alið 20 yṛoo a dir gatvig, yllin zetta: sie beukalipos. Buta

2. Selita quo mort zażdel mit 20 ygoo a osim (00:Lutibru wou

pumba kulit? Sollimibrü su sið tot gutylqqa fatuurravet quoiguo.. crít

mda ən talk tald zaela #l exact of yxaarsden suokrausigra sát IIa

ard to stearatak tand vứt toh bas boltižnu) siéed at rok zal ins

·zuo:iæ. To guslej

Ni mi Ingu alið to rattad a'zogami, zi to vyoo Điê MOTI

3 Talius at. gyrusser? s'přmejali eik te wyseminatering abroX síð

seorang bit rebar noisinog sið abrazar na misaades;queim Ortylin

Makrig, #roŭeet zi od beband I rurkata pomact niit has onewilbrü weer

JAS 6701@*% Jurid I Iflw,tiaval aretrav ta omast adom 20 aftatob

."Uti betaderodeurmEm

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Lacoltibha oď blưoća ukoo talt kolikatni ont son at #I

est to utibaer adð rignoit la noktikunea "o tlabṛab art 02

,.0.1.0..pel auli109.8.4.

Ordinance would be that for the 2/3rds of the ordinary issue of $30 millions the Bank has the option of depositing ooin and/or securities, that is partially nullified by the undertaking to

always keep depositad with the Government ecin te the extent of

1/3rd of the note issue in circulation. Advantage could only be taken te make use of the facility of issuing notes against securities to the full extent of $28,353,338 in the case of an

excess issue over $30 millions, when securities would constitute Gaver for the 2/3rds of the ordinary issue and an equisalent

amount of cein be automatisally diverted against the excess issue

over and above the $50 millions, the result being that the excGOSS

issue would always be fully covered by the deposit of dollar for !

dollar.

At $30 millions the position would be :

fiduciary securities

coin

***

6.666.666 13,333 334 10.000.000

$30,000,000

100 100 100 200 1 1 1 1 1 M N

As the note sirenlation increased above that figure securities

could be deposited for 8/3rds of such increase and coin for the

balance of 1/3rd until the excess issue reached $15,000,000 making

the total issue $45,000,000 when the cover would be ;-

fiduciary securities

ooin

...

...

...

$ 6,666,666 23,333,334 15.000.000

$45,000,000

.1.3

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