278
with the great Rubber Slump, the situation there was
in such precarious condition that wholesale bankruptcy
would have been resulted had it not been for the
timely aid of the Government in the issuance of
Treasury Bonds to save the situation, Reference was
also made to the financial crisis in the United States
of America in the year 1907 when total destruction
was threatened owing to heavy investment of landed
property and shares etc. It was only due to Mr.J.P.
Morgan's untiring appeal to the States Government to
issue similar Treasury Bonds that the situation was
ultimately saved. The efforts taken by these Govern-
ments have achieved very appreciable results and are
traceable in our present day history. Emergency
policies as these are worth while adopted to meet our
present case.
Sir, the surrounding atmosphere is very
unwholesome and it is now high time that steps should
be taken immediately to relieve the situation. I
now beg most respectfully that you will be good enough
to take the urgency of the situation into your kind
consideration and transit our suggestion to His
Excellency the Governor for his approval, with a
request that our suggestion be adopted and carried
into effect at the earliest possible moment.
regard to the details of the Scheme, I beg to leave
them to the discretion of the Government. But if
it is the Government's desire, that we should present
details of the scheme, we shall be too pleased to do
so on your instructions.
With
Your favourable reply to this matter is
awaited with extreme eagerness,
The original copy of the Petition in
Chinese