CO129-488 - Governor Sir Stubbs - 1925 [1-7] — Page 276

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application might also be due to the comparatively low level of silver. However, that may be, the present conversion is obviously convenient for the purposes of the bank, and I do not see any reason to object.

It is, however, obviously unreasonable that the Bank should have recourse to the good offices of this Goverment to enable it to change its constitution whenever it pleases and I propose, if conversion is approved now, to inform them that they must in future keep to the eilver basis,

I should be glad to receive your decision

by telegraph, as the Banx is anxious to have the matter settled as early as possible.

I have the honour to be,

Sir,

Your most obedient humble servant,

J. & Stutt

Governor, &c.