00024
34
emphasise that it is not intended that the increase in the fiduciary issue should be permanent, and we should ask the Hong Kong Government to make this clear to the Bank.
As regards (c) in Mr. Fisher's letter, we have looked after this on the file about the note issuing powers of the Hong Kong and Shanghai Banking Corporation. An extract of (c) of (31) should be registered on that file.
As regards Mr. Morse's first point in (33), it is not entirely clear what he has in mind. It is thought, however, that it would be met by putting the words "when first put into circulation" as shown in pencil in the draft below (28), and omitting "when first issued". Despite Mr. Fisher's cominent, Mr. Caine definitely prefers "put into circulation" to "issued".
I now attach a draft despatch to Hong Kong transmitting the draft "Duress" Notes Urdinance with amendments as accepted by Mr. Caine, viz. the amendment proposed by Mr. Young in the third paragraph of (34), Mr. Fisher's point 7., the amendment to meet Mr. Morse's point, and the alteration of the date.
A copy of the despatch when issued should be placed on 55116.
مسمعة
13th May, 1946.
C.
22/2
Do It. Kary. 'I traded in cano
Колу
Draft.
7.USW.
t
16.5′′
22
за
ZEE.
1
cms
Ref.:
CO 537/1369
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