CO129-374 - Public Offices & Others - 1910 — Page 89

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HONGKONG & SHANGHAI BANK, LONDON.

trade would probably soon adjust exchange to a normal level.

Currency questions are so involved that one is

naturally diffident about expressing decided views, and I can

assure you the present occasion is no exception to the rule.

83

Should the Govern ment decide to have a note iesue

Ver

of their own payable in Silver, and invest part of their reserves

in gold securities, they would run no small exchange risk, besides

* do I tiem avon ho Jounce 1b qd bolala

perhaps encountering other difficulties, and as I said at the

outset, I very much doubt if there would be any compensating

advantages either to themselves or to the trade of the Colony.

\do al goodsmol ni seda

C. S. Addie Esq.

ot titluc

noliaetog Te

ei rolɛqarooo bna etae not alos nu”.

London.

Yours very truly,

(SIGNED) J. R. M. SMITH.