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In reply
NATIONAL
DISABLED
CHEME
MEN
please quote Regd. No.
F 3533/2
Dear Clauson,
Yesterday
TREASURY CHAMBERS,
WHITEHALL, S.W.I.
20th August, 1931.
Mr. Bruce of the Chartered Bank came to see me '
with the Solicitor to the Bank.
He considers that the restriction of the
increase in his note issue to $5,000,000, to be fully
covered by silver, places him in a disadvantageous position
at
compared with the Hong Kong and Shanghai Bank, and his
local Manager at Hong Kong has apparently got the
Hong Kong Government to say that they will recommend an
increase up to 10,000,000 on the old terms. lir. Bruce
wanted to know whether the Treasury would agree to an
increase of 10,000,00 instead of $5,000,000.
I told fr. Bruce that the decision had been
taken by the Currency Committee who were anxious to ma e
as small changes as possible in the present position
pending the general re-organisation of Hong Kong currency,
and that personally I thought it was unlikely that the
G.L.M. Clauson Esq., 0.3.E.,
Colonial Office.
decision