813
Dear Gent,
។ -
RECEIVED
25 MAR 1938
C. O. REGY
4, MILLBANK,
WESTMINSTER,
LONDON, S. W. 1.
( JO 7730)
ABBEY
24th March, 1938.
Your letter of the 22nd March, No.53553/37, enclosing
a copy of a letter from Caine regarding the statement which is
furnished every six months showing the maximum amount deposited
with authorised banks in Hong Kong during that period.
It has been of some interest to us to learn what rates were
being obtained locally in comparison with the rate earned on
balances in London (in the Joint Colonial Fund) and if at any
time there had been apparent advantage in (for instance) sending
more money to London we should have made the suggestion. Such
a point, however, would not escape the Financial Secretary, to
whom the appropriate and profitable distribution of balances
is a matter of close concern, and we agree with your view that
there is no objection to the discontinuance of the return,
either in the case of Hong Kong or in that of the Straits
Settlements.
G.E.J. Gent, Esq., D.S.O., 0.B.E., M.C..
b
Yours sincerely,
perano
CA