To the Editor of the New Zealand Spectator.
Sir, — Will you be kind enongh to insert the following explanation respecting the issue of small debentures, — it will tend to allay any prejudice that may exist, and show the public that they are quite as safe and good as the Government debentures ; they were issued solely in consequence of the great scarcity of silver, and for the accommodation not only of the storekeepers, but of the public in general. Whenever any of the storekeepers, or other people in business, are in want of change, they apply tQ the treasurer for small debentures, who, upon receiving a pound Government debenture, issues to the respective partieseither 40 sixpenny, or 20 shilling debentures, as they may desire, the treasurer having signed and. numbered them, thereby acknowledges the receipt of the money (which is afterwards placed in the Union Bank, to remain there as security for the redemption of the debentures, whenever the public may demand it), and the party to whom they are issued countersigns them, after which they are ready for circulation. The treasurer, as well as the party who countersigns, hold themselves ready at any time, to change them for Government debentures on demand; and tq^prevent forgery, Mr. Marriott was kind enough to execute four wood-cuts especially for this purpose. It may be as well to add, that the merchants in Wellington are willing to take these debentures in payment of goods not specially sold for cash ; and also, that Mr. George Moore and Mr. John Johnstone have consented to act as auditors, and make a weekly inspection of accounts. I am, Sir, your obedient servant, James Tame, Treasurer. Wellington, 7th July, 1845.
We insert the following communication, which more interesting matter compels us to abridge. We have, however, published sufficient to en-, able our readers to form a correct opinion of the writer's statements and arguments :—: —
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Bibliographic details
New Zealand Spectator and Cook's Strait Guardian, Volume I, Issue 40, 12 July 1845, Page 2
Word Count
315To the Editor of the New Zealand Spectator. New Zealand Spectator and Cook's Strait Guardian, Volume I, Issue 40, 12 July 1845, Page 2
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