I am confident that Your Lordship will not object to any reasonable arrangement by which their position may be ameliorated.
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The issue of one Dollar question which, on more than one occasion, has been the subject of correspondence with your Lordship's predecessors, who seem to have acquiesced, with considerable reluctance, in the present issue by the Hongkong and Shanghai Banking Corporation. The Colonial Secretary and Auditor-General (Mr. Marsh) in Enclosure to a minute, which I enclose, anticipates no objection on the part of Your Lordship to an increased issue by the local Bank, although the Hong Kong Chamber of Commerce has strongly recommended it. Mr Marsh is of opinion that the Bank should be called upon to withdraw its Dollar notes from circulation, and that the Government should issue a substitute in their place.
The Colonial Treasurer (Mr Lister), while expressing the opinion that the Bank should be allowed is ...