TELEGRAPHIC ADDAISE PIOTAIL. All Letters to be addressed to the Chartered Bank OF INDIA, AUSTRALIA & CHIN
اسال
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40
Chartered Bank of India, Australia & China,
Hatton Court, Threadneedle Street
London, 13th, September/909.
The Right Hon: The Earl of Crewe, K.G.,
My Lord,
The Secretary of State for the Colonies,
Downing Street, S.V.
C.O
80604
Rece
ac14 SEP
On 15th April last the Hongkong Government intimated
to our Branch there that His Excellency the Governor had under
consideration the question of the introduction into the Colony of a Government Note Issue on the lines of the system already adopted in the Straits Settlements and our Manager was asked for
an expression of the views of this Bank on the subject. Our Hongkong Manager referred the matter to us in a letter dated
Hongkong 23rd. April last, but unfortunately neither the original
nor the duplicate of the said letter reached our hands. When
a copy of the letter was received by us, we on 16th. July last communicated with out Hongkong Manager to the following effect:-
"As the Colonial Secretary's letter to you of 15th. April,
"asking for the views of this Bank on the subject of the
"proposed note issue, does not appear to have elicited
"any reply from you, beyond a mere acknowledgment, we
*now take up the matter.
++L
む。
The currency of Hongkong presents the anomaly of
*legal silver tender being at a discount vis-a-vis notes "issued by private Banks, and any practical arrangement to
remedy this is entitled to receive support at the hands
*of the Banks.
If therefore the Government of
"Hongkong carry into effect their intention of issuing Notes "about the beginning of next year, and are prepared to *receive silver currency in Exchange therefor, dollar for
"dollar, without any charge, and to pay out silver currency "in redemption of their notes, dollar for dollar, when
"asked to do so, the effect would be to place the silver
"currency