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neantime something will have to be done to relieve the position or the very greatest inconvenience and loss will be experienced
by. the Community.
It is not a question of profit accruing to the Bank by an increased note issue, but it is a question affect- ing the present position and the future development of the trade of Hongkong which makes it an imperative necessity to provide a remedy for this restriction of currency with the least delay.
possible.
I have the honour therefore to make the following
proposal to 8. E. The Governor, that for any excess in our issue
of notes we lodge dollar for dollar with the Colonial Treasurer. ́
Later on the propriety of transferring to
Hongkong the reserve for our note issue at present in London can
be considered.
I. have etc."
(Sa.) T. Jackson,
Chief Manager.