153
H
If it is the case that amongst these bills there are bills
Payable by German houses in Hongkong and China, who have
delivered the goods, against which they were drawn, to
Chinese on credit, it is clear that in assisting the British
Financial Houses, H. M. Government are indirectly giving
assistance to German enemy firms, who, not only shew no
gratitude for this kindly intervention, but openly declare
their hostility to our country and have actively carried on
an insidious propaganda against British interests in China.
While it may perhaps in the general interests of
British finance be inexpedient to upset the bold storage'
arrangement, my Committee would respectfully suggest that
H. M. Government should take advantage of the situation to
ascertain whether it is the intention of the British Financial
Houses and Banks to resuscitate the system, under which German B
have been enabled to undermine the trade of British merchants
in Hongkong and China by giving extended credit to Chinese,
if and when these institutions resume their business relations
with German firms after the War, or whether they are willing
to come to an understanding amongst themselves to discontinue
the financial facilities referred to with a view to re-
establishing British trade with Hongkong and China on a sounder basis than has prevailed in recent years. My
Committee venture to hope that it may be possible to have
an arrangement of this kind arrived at, in view of the
probability that after the War German firms in Hongkong and
China will do everything in their power to injure British
interests there, and it surely cannot be for the national
welfare that facilities for so doing should be accorded to them
by British institutions.
I have the honour to be,
sir.
Your most obedient Servant,
J. Anderson.
Chairman.
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4.