1
would be awfully grateful if you could put his mind
at rest one way or the other.
Youre ever,
Copy.
My dear Davidson,
Downing Street,
505
# July, 1917.
P.S.
I write to you because I know that you have come into contact with trade matters all over the Empire.
Davis has turned over to me your letter of
the 29th of June about the credit given by German
banks in the Far East.
I cannot find among our papers concerning
the winding up of enery firms any exact foundation
for the Chancellor's statement that it was the
regular practice for the German banks to give people
credit for six, nine and even twelve months, while
our own people could not get anything like the sare
credit from our banks. Possibly the Chancellor had
in mind certain correspondence regarding hat is
called the London acceptance syster. Under this
certain London discount houses used to advance
money to German traders in the Far East range
goods exported to Hong Kong against a letter of lien
under which the German firm undertook to hold the
goods and the proceeds of sale in trust to meet the
bills
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