00 108
Wt. 49614/485 9/46 50m. S. & S. Ltd..
C. O.
Mr.. Emanuel
MI
plastings
26/7 30/7
Mr. J.B. Williams 2.8
Mr. Caine
Mr......
15488/17/46
が
RECEIVED.
- 3 AUG 946
84100K OFFICE
Permt. U.S. of S..
218 atane Parly. U.S. of S.
Сурии
DRAFT. TELEGRAM
O.T.P.
Secretary of State.
18.
107
Recythered (OTP).
16.15hm
3.8.46
Оль
1
2
cms
Ref.:
THE NATIONAL ARCHIVES
CO 537/1374
Please note that this copy is supplied subject to the National Archives' terms and conditions and that your use of it may be subject to copyright
restrictions. Further information is given in the enclosed
Terms
and Conditions of supply of National Archives' leaflet.
2
Ins
GOVERNOR,
(16)
HONG KONG.
(below (1))
(10) (14)
v.de 15
and minus
, аму withdrawals made during the occupation an
FURTHER ACTION.
Copies to:-
18.
N. Young, Esq., Treas C.E. Loumbe, Esq., B/E. R.L.M. James, Esq.,Treas.
r
637 Secret.
No.....
Your telegram No.564.
Debtor-creditor relationships.
This fubject has now been discussed with
Macdougall.
2. Before commenting on suggestions in
C.A.3366 and your telegrams Nos.19 and 458
I would inform you of one modification which
*
I have made in my original scheme, Modification
concerns deposits made with banks during the
occupation in Japanese currency. It is no w
proposed that banks will have no liability
net in respect of any outstanding note-deposits
made during the occupation in Japanese
currency, so that their maximum liability would
.
be the princip. occupation deposit plus any
deposits profed:
in genuine Hong Kong.
over
currency less withdrawale in Japanese currency during the occupation. This proposal is justified on the
ground that a bank in accepting deposits, is
withdrawals ineluding onts
acting primarily as a holder of currency
rather than as a borrower of money and that th
risk of depreciation can legitimately be place upon the depositor. Further there seems no
•
+
need to distinguish between the man who held
1
/the p