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Full transcript - Letter from Whitehall objecting to the establishment of a bank in NSW

Suggestion by Macquarie conveyed to Home Authorities that a Government Colonial Bank be established in NSW, met with the disapproval of the Committee of Privy Council for Trade April 30 1810. NRS 897 [4/1726, pages 126-127; Reel 6043]

126

 

Dup Copy                      No 32                     17 May 1811

 

Office of Committee of Privy

Council for Trade

Whitehall     17 May 1811

 

Sir,

 

The Lords of the Committee of

Council for Trade & Foreign Plantations having

had under consideration the Extract of a Letter

from Govr Macquarie dated Sydney New South

Wales 30 Apr 1810 (transmitted by you on the 11th

Inst) suggesting the Expediency of establishing a

Government Colonial Bank for the reasons

therein represented, I am therefore directed

to acquaint you for the information of the

Earl of Liverpool that it appears to their

Lordships that there are many objections

to the Establishment of a Bank in New South

Wales however advantageous such an Establish-

ment may have proved to the settlement at

the Cape of Good Hope. The Lords of the Com-

mittee, however are of the opinion that it

might be advisable that an issue of Dollars

of not more than £10,000 in amount, should

take place, as such a measure might prove

of

 

R. Peel Esqe

127

 

of essential service towards relieving

the difficulties complained of in the said

Letter of Govr Macquarie.

 

                                I am etc.

                        Signed W Fawkener