654
probable that the eventual saving will approximate rather to
Moreover the higher, than to the lower, figure we have named.
if we succeed in effecting such sales of Stock as may be necessary at any premium above £100, some further saving will accrue
which will probably suffice to provide for the expenses of the
operation.
8. When the Conversion and Redemption are closed Hong
Kong will have but one form of Public Debt in this Country, a
3 per cent Stock of £341,400, to which, for some years to come,
any further loans which the Colony may require can be conveniently added, unless, as we hope may be the case, we can succeed in introducing a 3 per cent Stock.
I have &c,
Sa) M.F.Ohmanney.
(5.)