I see no reason why the action proposed by Mr:
Gent should not be taken. I suppose there are advantages in paying off the 1918/43 31% sterling
loan--for the same reasons as in numerous recent
cases we have seen, and possibly with additional
reasons connected with exchange. But it would
I think be well to have the calculations on
record here. The system proposed is novel:
and, at a guess, likely to appeal to the alleged)
gambling instinct of the Chinaman. I can hazard
no opinion as to how a loan on these terms is
likely to be received: we must depend on the
Govr:,and the H K Bank, for advice as to that.
As to borrowing now for the full sum
likely to be required for works foreseen, I
think the probable balance of advantage lies in
favour of that course. There is a slight, but
quite unmistakeable, world-wide improvement in
affairs; and if that movement develops, it will
certainly lead eventually to dearer borrowing.
The 14-12-33.
14/12/85
his draft telegram has been re- pared in consultation with ir zecniel;
but it would seem desirable to obtain
the official concurrence of the C...
in its terms before sending it.
# Rlowell
14.
yes i
Atain official
Concussedce
of
C. A.
VS. 15/144/33
at me
14