obtaining
There would be much delay in
sanction to loan by His
Majesty's Goverment and such loan or
guarantee of loan would require Act of
Parliament. The matter is most urgent
and in view of position shewn in enclosure
to your Confidential despatch of 20th
August and especially of large surplus
in currency reserve it has been
suggested to me that Straits Settlements
might be willing to come to the rescue
of Sister Colony by lending up to one
and a half million sterling on say
twenty year five or five and a quarter
per cent bonds. Advances would be made
in Sterling through Crown Agents in
blocks as required and capital might be
paid in fixed instalments if desired.
→ investment would constitute a
231
be amply secured by the whole assets
of Hong Kong a special ordinance being
passed there to charge Hong Kong
resources. It is hoped that remainder
of loan of three millions required could
be borrowed from reserve funds in other
parts of the Empire.
J
Matter has been discussed
with Guillemard who without raising
objection wishes it to be referred to
you and Pount bey.
I will defer making any
representations myself till I learn how
you view the proposal. Please reply
at earliest possible moment.
AMERY
tion of your opium revenue reserve
nd would have convenient length of
barrency for that purpose and would
be