P.3633/2.
6 ̃, August, 1931.
35
The Manager,
sir,
I have laid before the Lords Commissioners of illa
kajesty's Treasury your letter of the 6th ultimo, apply-
ing for permission to ineraƉse the Note Issue of the
Chartered Bank of India, Australia and thinɑ to the @quivnimmt of Hong Kong ƒ80,000,000 on the aɛme conditions
as regards security as are provided for in the existing
Charters.
In reply I am to say thốt Their Lordships are not
prepared to agree in present sireusstɑness to the pro-
posed inereuse up to £50,000,000 of the Bank's maximum
Note Issue. After conauitation with the sther Depart-
ments concerned however and with the Government of Hong
Kong They are prepared to agree to an ineresse in th Bank's maximum Note Issue of $5,000,000, making a total of Hong kong ƒ35,000,000 in all, subjest to the condition
that any notes issued in excess of £30,000,000 will be
secured by the deposit of silver soin legal tender in
The Chartered Bank of India,
Australia and China.
Hang Long