to all Colemal Suntinies.
I think that
the
2
in the
follwing form. of
the while the insertin of the
leaves rather less ambiguity then the aminin
Convermer
after "invertbenen of "
center
The US IS for the Colonies present his compleisite and, with reference to the circular despubl of the 3rd of April last relative to Trading and investments by public officers,
Regues.
That, in order to make it clear that in mle
76A of the Colonial Regulations the clance beginning
investment
words
"which might bring" qualifies the word
Comma
"occupation
02
may
be inserted after the
"in that rule,
poniter's
undertaking
It is negutted that wing to a
error misunderstanding shon't have arisen precise meaning of the
Mew
notes
می و اداری
A b
send out
at once
No. 258
Hongkong.
To May 190
Sir,
Goverment House,
Hongkong, 21st. May, 1903.
250
C. O.
22313
22 JUN CO
I have the honour to acknowledge your
Circular Despatch of 3rd. April, 1903.
2.
The prohibition is possibly so wide in
its application that if interpreted as suggested by the Colonial
Secretary it would prevent any public Officer in the Colony
from investing his savings in the only securities of which he
can have any knowledge, or with reference to which he can
exercise any discretion, and place him entirely in the hands
of brokers at home or in other Colonies.
3.
The minutes that I attach show the views
taken of the Circular by me and by the Colonial Secretary. I
see no indication in the Circular that Government would pay
the difference between the rates at which investments were
purchased and those that would be realized today. The difference
would, I have reason to believe, amount to many thousands of
dollars invested some years ago in shares that have fallen
heavily but which it is expected will more than fully recover
in the course of a few years. It appears to me that if Mr.
May's reading of the Circular be correct Rule 76-B would be
HE RIGHT HONOURABLE
JOSEPH CHAMBERLAIN, M.P.,
unnecessary
&C -1
&C. 1
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