CO537-(1262-1649) — Page 92

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THE NATIONAL ARCHIVES

د

00057

55

cms

Ref.:

THE NATIONAL ARCHIVES

CO 537/1369

Please note that this copy is supplied subject to the National Archives'

restrictions.

Ins

N

Further information is given in the enclosed 'Terms and Conditions of supply of National Archives' leaflet. s and conditions and that your use of it may be subject to copyright

All Letters to be addressed to

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

TELEGRAPHIC ADDRESS:

For Inland Telegrame

PAGODA, STOCK, LONDON. For Foreign Telegrame

PAGODA,LONDON. TELEPHONE NO LONDON WALL 3688.

(OLINES)

52

Dear Caine,

The Chartered Bank of India, Australia & China,

PLEASE QUOTE-

Ref.

WRO/MH.

38. Bishopsgate,

London

-5 JUN 1946

OL

E.C.2.

4th June

19:46.

56

I acknowledge receipt of your letter (15117/2/46) of 31st May, the contents of which are noted. Bearing in mind, however, the position which has arisen in the Philippine Islands, I should say that the Banks are likely to recover very little from their borrowers, unless a decision on the "Debtor/Creditor" question is settled at an early date. As you know, the Banks are precluded by the Moratorium from taking any steps to recover from their borrowers at present, and it is only too likely that when they are permitted to take steps, they will find it difficult to enforce their rights, and further delay will only magnify their difficulties in this respect.

I am writing this in a personal strain, but I cannot too strongly urge that decisions in these matters should be taken and put into force with the least possible delay.

urs sincerely,

AR

Mischleu

S. Caine, Esq., C.M.G., Colonial Office,

Dover House,

Whitehall, S.W.1.