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Telegram from the Governor of Hong Kong to the Secretary of State for the Colonies.
Dated 18th December
460
61441
(Received Colonial Office 8.34 a.m. 18th December, 1923).
18 DEC 23
Confidential. Your despatch of 16th March Chartered Bank Agrees to keep under control of this Government silver dollars to cover at least 1/3 of note issue in the colony. I shall be glad if permission may be granted to Hong Kong and Shanghai Bank to increase its ordinary issue to 30 million dollars of which 62/3 million would be fiducial and 231/3 million would be covered by securities and bank would deposit with Hong Kong Governmentor in place approved by Hong Kong Government coin or bullion to cover Matter urgent as notes are at least 1/3 of total issue.
in great demand for Chinese new year I will forward by
mail necessary amendment of ordinance.
STUBBS.