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2. Sir C. Clementi supports the
arguments advanced by Mr. Southern and has
expressed the view that while it would
clearly be wrong for the British Authorities
to advise or guarantee a loan, it Would be
equally wrong to take any steps to prevent
the grant of an unofficial and unguaranteed
loan.
3. Mr. Amery considers that the
matter is one of great importance to Hong Kong
and will be glad to receive Sir Austen
Chamberlain's observations on the issues raised.
I am,
etc.,
Sd. H. Becke