Page 363
Hongkong and Shanghai Banking Corpora-
tion,
Hongkong, 11th May, 1909.
Sir,
I am in receipt of your letter No. 8641/08
of the 15th ultimo, which was delivered during my temporary
absence from the Colony and in which you ask for the views of
this Corporation on the question of a Government Note Issue for
the Colony.
You give no particulars beyond the fact
that the proposed issue would be "on the lines of the system
already adopted in the Straits Settlements" with the full
details of which system I am not acquainted and where the
currency is now on the basis of a fixed exchange. In the
absence of information as to how it is intended to work the
proposed issue here and to deal with the reserve to be held
against it I find it difficult to express an opinion. I may
however say that I shall be glad to supply the Government with
the details of the working of this Bank's note issue.
I am etc.,
(sd.) J. R. M. Smith,
Chief Manager.
The Honourable
The Colonial Secretary,
Hongkong.
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(Enclosure 2)
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However, to follow the exact format required and focusing on the main content provided:Hongkong and Shanghai Banking Corpora-tion, Hongkong, 11th May, 1909.
Sir,
I am in receipt of your letter No. 8641/08 of the 15th ultimo, which was delivered during my temporary absence from the Colony and in which you ask for the views of this Corporation on the question of a Government Note Issue for the Colony.
You give no particulars beyond the fact that the proposed issue would be "on the lines of the system already adopted in the Straits Settlements" with the full details of which system I am not acquainted and where the currency is now on the basis of a fixed exchange. In the absence of information as to how it is intended to work the proposed issue here and to deal with the reserve to be held against it I find it difficult to express an opinion. I may however say that I shall be glad to supply the Government with the details of the working of this Bank's note issue.
I am etc.,
(sd.) J. R. M. Smith, Chief Manager.
The Honourable The Colonial Secretary, Hongkong.