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29 Dec 1940 DEPART ENTAL NO. 2.
Decypher.
Mr. Broadmead, (Shanghai).
23rd December, 1940.
D.
•
3.10 p.m. 12.10 a.m.
27th December, 1940. 28th December, 1940.
R.
No. 1117.
ddddddd
Following received from Hong Kong (begins).
Addressed to Shanghai telegram No. 274 of 17th December repeated to Chungking telegram No. 188.
Following for Commercial Counsellor from Hall
Patch.
I talked with Hopkins recently as to policy of foreign banks on establishment of new partition bank. ?!
2. It is clearly desirable that British and American banks should neither accept notes of this bank nor have dealings with it. If the question is brought formally before Foreign Bankers Association, Japanese banks would oppose such a policy and might be supported by Italians and Germans. Dissension in this body is best avoided. Nevertheless a common policy of non- co-operation by British and American banks should be formulated well ahead of opening of new bank and concurrence obtained of as many other foreign banks as possible (e.g. Belgian, Dutch). This Hopkins would undertake as chairman of the Association.
3.
Please confirm with him that he is proceeding on these lines as indications are that the new bank will shortly be launched.
[Copies sent to Mr. Waley].
DEC
1940
LO
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