the Chinese. There are large aunts, too, in the hands of the Chinese Companies, who have no outlet except by depositing the Bank's funds for placing their Funds in even now it is difficult to get Banks to take money in deposit at a more profitable rate than 4¼ or 4½ per cent. They would, doubtless, be glad of the opportunity of investing their surplus Funds in Government securities.
8. It would, therefore, be a material advantage to be gained by raising the loan in London. I would strongly urge the advisability of floating it in the Colony. It may be that the Government could obtain better terms than those offered by the Hongkong and Shanghai Bank, but if they are as favourable in London, I trust that Your Lordship will leave the matter to be arranged here.
9. There is only one point regards the Ordinance which will have to be passed to which I need refer, and that is that it should, I presume, provide for annual drawings of a certain amount of the Bonds which would be redeemed, thereby reducing the...
Page 379
the Chinese. There are
am aw
large
aunts, too, in the hands of the dimrance Caufanies, who have. no mitlet erept by deposits the Bank's for placing their Funds
in
even now it is
at interest, and difficult to get Bants to take
marey
in deposit at a more "profitable rate than 44 or 4/2
for cont. They semuld, doubtless, be glad of the opportunich, of investing then surplus Pands in Government
securities.
8.
advantage
thelof, therefore, a material
to be
an
gained...
raising the hears in Lendon.
by
would strongly urge the advisability
379
of floating it in the Cedany I
be that the Cavernment could
may
ablains better tems than those
offered by the Cloughing and Shanghai Bank, but at
if they
are as
any
A2
rate
Can
favorabile in Londow, I trul
be oletaneed in London,
that You Loridhip seill leave the
matter to be
9.
ed here.
arranged There is only one proint
regards the Ordinance which will have to be paped to which I
need refer and that is that it should, I presume, provide for annual drawings of a
am
munten of the Bards which would be redeemed, thereby reduceing t
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