52.8 2nd
12
17
Telephone No.: VICTORIA 1234.
Any reply to this letter should be addressed to~
NATIONAL
THE SECRETARY,
SCHEME
DISABLED
2 MEN:
TREASURY,
WHITEHALL, LONDON, S.W.1,
and the following number quoted
RECERED
TREASURY CHAMBERS.
F.1125/2.
- 8 JUN 1928
7 June, 1928.
JOOL.OFFICE
Sir,
9
to ca. 14.
con
077.8
20
happy
I have laid before the Lords
Commissioners of His Majesty's Treasury Sir G. Grindle's
letter of the 22nd May (52821/28) and enclosures,
further relative to the cover for temporary expansions
of the excess note issue of the Hong Kong and Shanghai
Banking Corporation.
In reply I am to state for the
information of Mr.Secretary Amery that My Lords are
now prepared to agree to permission being given to the
Corporation to earmark sovereigns at the Bank of
England on behalf of the Crown Agents for the
issues.
Colonies as security for any such temporary excess
They note that the facility of earmarking
sovereigns in London will only be required occasionally
and for comparatively short periods to meet exceptional
and temporary increases in the note circulation and
that the gold would not be required to be exported.
The Under Secretary of State,
Colonial Office.
My