grounds we have already suggested to Hong Kong
that in the present disturbed conditions in
would
the Far East it
be advisable for them
The
to maintain a reserve higher than the $10,000,000
hitherto regarded as the minimum figure.
Colony is at present faced, however, with
considerable expenditure on a variety of
objects which make it improbable that they
could consider setting up any special reserve
at the present time. Indeed they will find it
difficult to increase their ordinary reserve for
the next year or so.
?
M Clancon
Reply to the Treasury accordingly.
P. Roger
23.X1.38.
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know what
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daranasion
Anchored
at the end
I th
letter
Mrant.
24x1
You will remember
umumber my
corrce with A. Jaine about
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possibility of taking tremp
out of the currency
Reserve for
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specific surgeon in a year at or two. The conclusion then reached was that there was nothing to be done regarding Bat in the present.
a copy of that corice to Mr. Young untie the usual arrangement, & I happast to meet him a fur bags cater at a dinner
& Wesent
Jour