CO129-369 - Acting Governor May Governor Sir Lugard - 1910 [10-11] — Page 283

Pers

2

+

280

>>

their redemption in defiance of the Regulations issued by the

Ministry of Finance with the sunstion of the Chinese Government

on the 29th July, 1909. The following privato Chinese Banks have

to my knowledge failed recently owing to their being unable to

cash their own notes issued by them without proper security:-

The

eh Boan Choang Bank, Satow,

The Ewo Bank, Swatow,

and it is possible that other Banke in other parts of china have

failed for the same reason. Chinese and Foreigners alike are

affected by the financial crisis thus crouted and in the interests

of the trade of the Colony I would ask you to draw the most serious

attention of the chinese Government to the disastrous consequences

of the blind disregard of regulations the observance of which

prudence, if nothing else, should have dictutod,

I have the honour to be,

sir,

Your Excellency'a obedient servant,

AJ FIton ay

Officer Administering the

Govom pont.