CO129-555-6 Banking crisis 24-9-1935 - 18-10-1935 — Page 63

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(Act No. 7 of 1917, S.4) and in the Bahamas (Act No. 4

of 1909, 8.8 Chapter 157 of the Revised Statutes 1929).

The expense of annual publication in the Gazette might be

a consideration to a small bank with a capital of £25,000,

but, if so, perhaps discretion could be given to waive a

charge in such cases. There is a great difference, from

the point of view of the education of the public, between

publication and the existence of a record in the

Registrar's files, even though the latter may be open to

inspection, perhaps at the cost of a fee.

Yours sincerely,

(Signed) P. Ezechiel.

P.8.

On the question of the compulsory closing down

of an unsatisfactory bank (paragraph 4 above) I attach

a note on American legislation, and would draw special

attention to the width of the provision in the New York

State Banking Law,

(Intd.) P.H.E.