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London and China, and the Chartered Bank of Australia India and China. In making the first overtures on the subject to some of my colleagues I could see at once that calling a meeting to discuss the matter would be out of question; therefore the only course open before me to fulfil the views of Your Excellency was to circulate the Report amongst the Bank Managers individually; which I did, urging them to preserve the confidential character of the communication. I had a promise from every one of my colleagues that the document would not be allowed to leave their hands nor its contents revealed to outsiders.

I was, however, very much annoyed in reading the leader in the Daily Press issue of Friday morning as I thought it might create suspicion in your Excellency's mind as to whether some indiscretion had not been committed while the Report was unavoidably out of my hand; although I have since received from the various persons who successively got it in their custody (from Monday to Friday), the most positive assurances that such is not the case.

I enclose for your Excellency's perusal the notes received from

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