CO129-357 - Governor Sir Lugard - 1909 [7-9] — Page 626

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All

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627

liabilities in the United Kingdom: that it would not be

possible to invest 15 millions in local mortgages as the

market is already glutted and no demand for the money existe,

and moreover the Secretary of State would not permit such

investments to be made.

The Governor requested Sir Paul Chater to

submit a memorandum of his scheme for consideration and Sir

Paul Chater agreed to do this.

Council decided, Mr. Hewett along dissenting

that steps should be taken forthwith to institute a fovernment

note issue in this Colony on the lines of that already success-

-fully instituted in the Straits Settlements.

19th. July, 1909.

(Sd.) C. Clementi.

Clerk of Councils.

COJODY

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