CO129-313 - Governor Sir Blake - 1902 [10-12] — Page 144

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Chief Manager of the Hongkong and Shanghai Bank as to the

probability of a Silver Loan being taken up here by Chinese.

His opinion was that a 5% Loan would not be se taken up. On the

other hand the Colonial Secretary is in favour of the Loan

being in Silver and is of opinion that such a Loan would

probably attract Chinese Investors, and this view is shared

by Mr. Playfair, M. L. C., the Manager of the National Bank

of China, Limited, whose opinion he invited with my sanction.

Assuming that it would, the question re-

mains whether a Gold or Silver Lean would be more advantageous

to the Colony. The Colonial Treasurer points out that a Gold

Loan at 31 issued at par, would at the present rate of Ex-

change be financially advantageous to the amount of $37,500

per amum as against a Silver Loan at 5%, and would be in

favour of the Colony until the dollar Exchange drops to

a contingency upon which I offer ne opinion.

1 s. 3 d.

The

I attach the Minutes of Colonial' Treasurer

1

and the Colonial Secretary, the letters of Mr. Playfair and

the swering Minute: of the Colonial Treasurer.

Yoo

33303

4.

With reference to your Despatch No. 275

of the 29th. August, I would state that I concur in the

opinion expressed in Sir William Gascoigne's Despatch above

quoted that the moment is not opportune for increasing the For general purposes outside the needs of the harbour. Shipping dues, I shall address you separately on the subject

shortly.

Closure 3.

ight Jeftember,

with Ictober, 1907. closures546.

# Detober, 1907.

onclosure 18th October 1987

5.

In the event of a Loan being authorised

and a Gold Loan being decided upon I would suggest that if

possible the Crown Agents so arrange that the money should

be obtained as required instead of raising the entire

$2,250,000