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Sebons for Effording Government Assistansë to Members of the Subordinate Sörviss in paying off their dəbis to nonby landare to supplement the passing of an ordinanes to pretšes Publie mrvants fron légal Pressedings ià rispõet of opptain Liabilitišs.
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413
I have already suggested the passing of kn
Ordinanes on the lians of the Publis servants (Liabilitiša)
Emastnert 1897 in the Federated Halay States. Buch z
Ordinsnes sould not, however, be made retrospostává and I
think something sere ie suided.
I attach straite settlements Giroulaz le. 20,
which provides for making advanose to mombers of the Suberd inste
Service to meet cases of bona fide misferture - I understand
that sam olerke when applying for advances under this
Circular entered among their liabilities extravagant expendituris
upen a funeral or a wedding, and there were others where
misfortunes had been caused by standing security for friends.
I propose that some such scheme might be adopted
in Hongkong, but befeen proceeding te outline a schem I would
point out that so far as I am able to judge from the casse
that have came under my notics here, the Indian money lenders,
izte whase hands a clerk falls in lengkeng, is more rapsoleus
and drives mere unconscionable bargains than the Indian money
lender in the Straite Settlemente and Federated Halay states.
The latter is zearly always a member of the Chefty Caete, with
when usury is practically part of his religion and the rates
of interest charged vary from 18% to 56% nominally, that is,
the principal sun lent is repayable by instalments either
daily, weekly or monthly, which give the return stated.
fact, however, that sach instalment bears interest at the @ime
makes the actual annual interest osnsiderably higher. For
example, a shetty will land without security a sum of $100 repayable by twelve monthly instalments of $10, and a promissory moto is sigued for $120, ne interest appearing on the face
the nets. This is quite fair but in Hongkong owing to the
short periods for which loans are made and the rapacious terms