§ MR. BRODIE HOARE (Hampstead)I beg to ask the Secretary of State for the Colonies whether he is aware that the Bank of Nova Scotia is issuing notes in Jamaica; whether these notes are legal tender, and, if so, by what authority; and whether he can give the terms as to limitation of amount and security which have been imposed on the Bank of Nova Scotia; and whether it is open to anyone on payment of a licence fee to issue notes in Jamaica or any other Crown colony, or whether legislation is required before they can do so; whether the Jamaica Legislature has passed any such 1063 legislation; and, if so, whether it has had the sanction of the Colonial Office.
§ THE SECRETARY OF STATE FOR THE COLONIES (Mr. J. CHAMBERLAIN,) Birmingham, W.I am informed that the Bank of Nova Scotia is issuing notes in Jamaica. Such notes are not legal tender. So far as I am aware no special limitation as to amount or security has been imposed on the bank in Jamaica, Such limitation is, however, prescribed by the law of Canada by which the bank is bound. I am advised that in Jamaica bankers may issue notes on payment of the licence fee prescribed by law, and that no legislation is required to empower them to do so. As to other colonies the law of each colony must be considered, and no general answer can be given. I may add that this matter, which is a very technical one, is engaging further consideration.