CO129-364 - Public Offices & Others - 1909 — Page 45

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43

follows:-

*With further reference to your letter No.8641/08 of *15th. April, 1909, I am authorised by my Head Office to

*say that so far as regards the probable effect upon our

*own Note Issue, we would be quite ready to consider any "proposals of Goverment for us to withdraw it gradually

"in favour of their Issue. No doubt there would be

"certain disadvantages to us by withdrawing, which we need

"not specify, but we do not consider them of sufficient

"importance to prevent us from rendering the Government

"all the assistance in our power to make the proposed

"scheme successful.

We would add that we concur with the views of the

Hongkong Chamber of Commerce, as expressed in their letter

of 28th.June, 1909 to the Hongkong Goverment and we are

clearly of opinion that the Hongkong Colonial Treasurer's

estimate of expenses as embodied in his Minute dated 5th.

June, 1909, is too low

I am, My Lord,

Your Lordship's obedient servant,

WA Whitehead

Manager.