BANKING ARRANGEMENTS OF THE GOVERNMENT.

Appendix to the Journals of the House of Representatives, 1873 Session I, B-03a

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1873. NEW ZEALAND.

BANKING ARRANGEMENTS OF THE GOVERNMENT.

(Return to an Order of the Bouse of Representatives, dated 24, th July, 1873.) Banking, Financial, or Exchange operations of the Government of New Zealand. — (Mr. Webster.)

No. 1. Memobandttm. year 1871, Paper B. 13.

No. 2. The Hon. J. Vogei, to Mr. D. L. Murdoch. Q General Government Offices, Auckland, 22nd March, 1H76. ' I have the honor to state that the terms which, after several discussions, 'twas agreed t v v^o ouKmiHpd to the Government as the terms on which the Bank ot New Zealand wouTdTwitnSo^^ndtTaktlo l^ZZle of £500,000 of Colonial Debentures in Melbourne Ind Sydney have been, by telegraph, submitted to the Government, and have been approved of. Those temi the debentures in Melbourne and Sydney, charging | per cent, commistwenty days after its lodgment in the Bank at t^^JSJ^Sff-SltSS^m amount not exceeding £200,000 to be remitted to LOnd 4 OnTht GotrnTeSbe %J^VSSA~m to the extent of 75 per cent, against the debentures ;^uch advances to be madefy the Bank atWeUington; interest on such advances to bo *^^^ttfKS&.sr3Sg two months'notice, to claim repayment of advances ; such repayment to be? made by the Government, at their option, by bills on Melbourne, Sydney, or L°B^J^S hd*l^S sold no charge to be made, except for absolute expenditure in adVtln gth\^vh nole rmat gr of'the negotiation, the Bank to act under the instructions of the Government- I have, &c, D. L. Murdoch, Esq., Inspector, Bank of New Zealand.

No. 3. Mr. D. L. Mtjedoch to the Hon. J. Vooel. Inspector's Office, Bank of New Zealand, Auckland, 25th March, 1873. SlE '~~ I have the honor to acknowledge receipt of your letter dated 22nd fcstanV^^ t"n JatinAhat ie, clmio Lto attach to any unsold debentures except for absolute expenditure in adverj£SSß?sSi?!^rj!»«?-» w- *-such exP enseB as advertlsing and prmtlDg are B.—3a.

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in the event of successful negotiation to be included in the per cent, commission. The commission it is understood includes brokerage, but all other necessary expenses will of course be a charge on the Government. Eequesting the favour of your so far amending the terms of your letter, I have, &c, The Hon. the Colonial Treasurer. D. L. Mukdoch, Inspector.

No. 4. The Hon. J. Vogel to Mr. D. L. Muedoch. Sib,— General Government Offices, Auckland, 27th March, 1873. I have the honor to acknowledge the receipt of your letter of the 25th instant, respecting thel terms upon which the Bank of New Zealand agree to negotiate the sale of £500,000 of Colonia Debentures, and in which you request that those terms, as stated in my letter of the 22nd, may be made clear in one particular. In reply, I have to state that I understand that the necessary expenses of printing and advertising are to be paid by the Government, exclusive of the -£- per cent, commission, which is to include brokerage. I have, &c, D. L. Murdoch, Esq., Julius Vogei. Inspector, Bank of New Zealand. By Authority: Giobsx Didsbcby, Government Printer, Wellington.—lB73. [Price 3d.]