Sir,
COPY.
Colonial Secretary's Office,
Hong Kong.
10th January 1927.
25
I am directed by His Excellency the Governor to
thank you for the Memorandum on the Currency System of this
Colony forwarded to the Treasurer on 18th December 1926. His
Excellency has read the Memorandum with great interest but
feels that the abnormal premium of Hong Kong Note Currency
is but one manifestation of the general abnormality prevailing
in China at the present time and that when trade and inter-
course resume their natural flow the relation between the
silver and paper currencies of the Colony will automatically
return to natural levels.
For these reasons His Excellency considers that it
would be unwise for Government to intervene in the matter.
I am, Sir,
Your obedient Servant,
(Sgd)
L.E.Hopkins,
Manager,
P. & O. Banking Corporation,
HONG KONG.
E.W.Hamilton.
p.p. Colonial Secretary.