N.B. the Hong Kong Ordinance has just been extended for 21 years.
Now as to our course for the future.
My opinion ceteris paribus is that the stability of its note circulation is important. On the other hand, however admirable its management may be, it would be ruined if left perfectly unfettered, considering proceedings at its Head Quarter and its Branches.
Both the Banks understand their own business better than we do. But the note-circulation complicates matters. To allow a Hong Kong Bank to open branches abroad may, by successful banking, strengthen the position of the Parent Bank at Hong Kong.
The Hong Kong and Shanghai Bank also mention places like London and San Francisco where they have "Branches and Agencies". If not allowed to do Banking business directly, they get into equal difficulties.
7
;
N.B. the Hong Kong Ordinance has just been extended for 21 years.
Now as to our course for
future.
the
My opinion ceteris paribus
the stability of its note circu-
lation.
On the other hand, however
admirable its
Inana.
may
germent at
be ruined
would
be to leave
these Banks
perfectly
imfettered, considering
Heat Quarter, it ma
by proceedings at its Branches.
Both the Banks with
a
that they
a re
moH
likely to
note arculation
Arr
Dung ương
understand their own business
than
we
ate.
But the note-
circulation complicates matter..
To allow a Hong Kong Bank to open branches abroad may by successful banking strengthen
the position of the
at Hong Kong, and
Parent Bank
eo
aaout
the
have "Agencies and branches" spread
the bast. The stong Kong
all over
ad
and Shanghai Bank also mention dyons and San Francisco places where they have "Branches
If not allowed
and Agencies". If not
to do Banking
cannot
business directly,
they get
ento equal
difficulties
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