A.—2
56
Ordered, That the said address be presented to Her Majesty by such members of this House as are of Her Majesty's Most Honorable Privy Council. The Order, made upon the sth day of this instant May, for presenting an address to Her Majesty for a return relative to banks (Fast India and the colonies), has been discharged. T. Erskine May, Clerk to the House of Commons.
Enclosure 2 in No. 70. The Treasury to the Colonial Office. Sir, — Treasury Chambers, Bth September, 1879. With reference to your letter of the 23rd June last, I am directed by the Lords Commissioners of Her Majesty's Treasury to request you to inform the Secretary of State for the Colonies that my Lords would be glad that, when instructions for the preparation of the return required for Parliament relating to banks in India and the colonics are issued, the opportunity should be taken of obtaining some more detailed information respecting colonial banking institutions ; and my Lords desire me to suggest that the colonial Governments should be invited to furnish the Imperial Government with particulars on the following points respecting each bank carrying on business within their respective limits, viz. : — 1. Name of bank. 2. Statement of all instruments, Imperial or local, under which the bank is empowered to carry on business. 3. Number of branches. 4. Nominal amount of each share. 5. Amount paid-up per each share. 6. Liability per share. 7. Dividend and bonus per cent, on capital during the last seven years. 8. Highest and lowest share prices quoted in the market during the year 1878. 9. Total authorized capital. 10. Total subscribed capital. 11. Total paid-up capital. 12. Reserve fund. 13. Amount of note issue authorized. 14. Highest and lowest amount of notes in circulation during the year 1878, or, if that information should be difficult to obtain, the amount of notes in circulation when the last two or three accounts were published. 15. Denomination of issue and proportionate amount of each denomination. 16. Amount of bullion or securities held, or required to be held, specifically against the note issue, adding whether such bullion or securities are "ear-marked" to the notes —that is, in the event of insolvency, would such bullion or securities be appropriated to the payment of the notes, or would they fall into the general assets of the bank, and be distributed pro rata among tbe general creditors, the note-holder only receiving payment as a general or ordinary creditor ? 17. The means (if any) which are adopted for ascertaining by periodical inspection or otherwise that the issue is not in excess of the amount authorized, and that the bullion or securities (if any) held, or required to be held, specifically against such issue are really so held. 18. The limitation (if any), which is imposed on the holding of land by the bank, or on the making of advances by the bank on merchandise. 19. Qualification required to make a shareholder eligible for a directorship. It would be useful if the return were also to state — 20. (1.) The amount of the deposits (a) at interest, (b) on current accounts, at the date of the last publication of accounts ; (2.) The amount of acceptance, (3.) The amount of gold and silver coin, (4.) The amount of bills receivable, (5.) The amount of advances to customers, on the 31st December, 1878, or at the date of the last publication of accounts in the year 1878. I am to add that, if the Secretary of State is prepared to give effect to the suggestions of this Board, my Lords would be obliged if he would be good enough to make known his intention to the Secretary of State in Council of India, with whom it will rest to give instructions for the preparation of so much of the parliamentary return as relates to India, in order that similar information may be obtained about Indian banks. I have, &c, Tho Under-Secretary of State, Colonial Office. William Law.
Use your Papers Past website account to correct newspaper text.
By creating and using this account you agree to our terms of use.
Your session has expired.