Quantities of the Hong Kong & Shanghai Bank being in Hong Kong itself & its Possessions I suppose to counterbalance English pressure & fall back let its position appear stronger: The great thing is that with unlimited help it may be trusted to shift for its own.
This despatch shows that the Local Government is proceeding in the right direction. On Oct 12 & since then their efforts have been approved by the Government of India in their telegram of Oct 31 warning them to withdraw deposits gradually.
The question of the note circulation of Chartered Banks is a matter for its Immediate remedy and cannot be approached in a half-hearted manner. Indeed it has affected in the slightest degree the panic. If anything, there is now the fear of Hong Kong in consequence of the near approach of chaos & ruin.
& receipt, & apparent action of the acting Governor is to proceed - Telegram received only by the Chartered Bank but the fact apparently is to withdraw gradually all the balances with the Chartered Bank but all funds are with the Chartered Bank. If Sargent thanks see this EN 26.11
Page 27
D. N.27.
44
...
F
I
Quanties of the Hong Kong & Shanghai Bank being inttung Kong itself its Posesses I reppose
ho
to Coupe bang of Eaglit phase brews &
fall back
let its pilon appens upper: The do thing that with unlimited hälikt
it may be trusted shed its own-
This despatch shows that to Loca
Fremment
churechon
Wak
poceeding in bright
Oct 12 & fince then
theer farting has been apprmal b
of then hands phongthen
Anharpahan of thei
telegram of Oct 31 Welling
them to witcions deposits gradually
The question of the hote anaplation
Rewit
E.a
27
kw
Ww
D. N.27.
of chase Banks is
44
me for a matter
for its Impende Ivany anche
cannot be appracched in
Indeed umba
ay
deas un
hang
Chal
: Ma
way
anto it has affect in the slightest degree the spanie. if Jami
There is now the
L
Hong Kong in
Consequence of the pears approach of
has been china & Renes.
ach & recapt,
& appare of
Nos action of the acting foderfring
द्वी
ai
blogram
To proceed -
bck 31.
Gurl has 26.
titegrann repned only to the Ricntal Bank but the fort apparentl intees to withdraw gradually all the besoich wt nh for the Enental. bit all fun the charlows hercentile Brute. If Sargeant thanks see this ] EN 26.11
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