C
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Sate
COPY.
Sir,
Enclosure
13395
1409
The Hongkong General Chamber of Commerce.
New Government Building, Dar Toeur Road
Hongkong, 4th. January, 1916.
*
I am directed to express the regret of my Committee that the reply of your letter of the 23rd. September last should have been dielayed. The death of the late Chairman of the Chamber and the consequent reorganisation of the Executive rendered it impossible for the matter to be adequately dealt with at an earlier date.
The letter of my predecessor of the 9th. September last and your reply of the 23rd. September embraced two main principles Vis, 1-
2.
(1). That the method, and progress, of the liquidation of anony flaum was prejudicially affecting the Commercial interests and present trade of the Colony, and, was, in addition, unfair to the creditors of such firms and to the firms themselves.
(2). That the Commercial interests of the Community and of the Colony demanded that all legitimate steps should be taken to counteract the growing influence of German Trade both in Hong- -kong and in China.
My Committee consider it desirable to deal with these two principles separately lest confusion should arise by the avoid- -able intermingling of one with the other.
I will assordingly confine this letter to the first principle only, I am writing to you separately concerning the second.
3.
As regards the first princple my Cammittee are unanimous- -ly of opinion that the lines upon which the liquidations are being con dated under the Ordinances relating to them and the instructions of the Government are seriously prejudicial to the Commercial interests and present trade of the blony, are unjust to creditors, and to the firms themselves, and handicap the efforts of Merchants to overcome the slackness in trade necessarily attendant on war, to expand their businesses in new directions, and to fulfil the demand
for the supply of merchmdise of the description previously handled
by