4
agreed upon at the meeting and read to Mr. Young of
the Treasury who concurred in its terms.
Mr. Young said that the banks concerned
were the Central Bank of China, the Bank of China
and the Bank of Communications.
Of these the Bank
of China and the Bank of Communications already had
branches in Hong Kong (see A.557 in China Directory).
As far as these were concerned, there would presumably
be no objection to their carrying on exchange
operations in time of war. Apart from the general
aspect, however, there was the question of the
Central Bank of China opening a branch in Hong Kong.
? As in draft.
P. Rages
1.18.37.
This draft givs H.K, a chance to raise czy points
ABron 1/9/37
[25. I thought that, be for committing Muscles to the trees of the proposes drast
Ausun Encloud
ui NOI
it would
b1⁄2 adusalle, Ex abundanti cautela, to
Consult I tone Kons; and freether that ther Sharw know of the proposal in question
1/9/37
t. Dimean.
Ime pupurred draft to H.Ke has been concerned in by the Treamy a the FO-