CO537-(1262-1649) — Page 65

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Ref.:

CO 537/1369

THE NATIONAL ARCHIVES

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Ins

restrictions. Further information is given in the enclosed Terms and Conditions of supply of National Archives' leanel 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 copyrigh

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/ continuation.

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and from recent accounts received from the Crown Agents for the

In Colonies it is discovered that they are still being made. view of the Fund's deficit it is submitted that these grants should stop forthwith and, further, that all grants made since

It will be appreciated, the re-occupation should be refunded. of course, that had no such grants been paid during the occupation the Fund would have been well able to bear the burden of these "Duress" notes and would still have emerged with a surplus of nearly £400,000.

5.

The following figures of note circulation under the Fund

are of interest 1-

At 30th June 1941.

$180,915,630

At 31st December 1941.

236,915,630

At 31st December 1945.

(including H.K. & 8.B.C. "Duress" Issue)

Present issue (provisional and

approximate)

8340,819,573

$360,000,000

In other words the circulation has doubled in the last five years.

6.

There are small "Duress" issues of the "Chartered" and "Mercantile" Banks which may also have to be borne by the Fund. They will not, however, substantially alter the position as set out above.

Hong ong:

19th November 1946.

Eve whwasey

A/C.A.

Secretary and Accountant.

cms

Ref.:

CO 537/1369

THE NATIONAL ARCHIVES

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restrictions. Further information is given in the enclosed Terms and Conditions of supply of National Archives' leaflet

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

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