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Telegram from the Governor of Hong Kong to the Secretary of State for the Colonies.
Dated 11th October.
(Received Colonial Office 5.p.m. 11th October 1925)
Your telegram of 7th October Promise of loan has had so much effect that I hope it will not be necessary to raise anything like the whole amount. Can not estimate what will be required pending examination
of applications which are now coming in. As the purchase of silver would probably result later in heavy loss in exchange I have arranged that the Hong Kong and Shanghai Bank will issue notes in Hong Kong against deposit of gold coin or bullion with the Crown Agents charging half per cent commission for their services. I will telegraph when the purchase of gold is necessary. I agree that the Hong Kong and Shanghai Bank should manage the London end of the business.