CO129-385 - Public Offices - 1911 — Page 29

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Prof 12 OCT

HONGKONG AND SHANGHAI BANKING CORPORATION,

31, LOMBARD STREET,

LONDON, E.C.

3rd October, 1911.

Dear Sir Francis:-

Chinese Currency Loan.

I am sending you, officially, copy of the

inutes of the Borlin Conference.

You will observe that, in offect, the four Banka

have agreed to give China virtually a free hand to carry

out her scheme of Currency Reform and to provide her with

the funds to do so. It is a tremendous experiment, but,

possibly in this case, the bold course is the wise one.

We put China so to speak on her honour under the surveillance

of the great Powers, in the full knowledge that on the

manner in which she acquits herself of her trust depends

not only her national credit in durope but her chance of

obtaining the revision of tariff on which her heart is set.

In this way, working through Chinese methods and throwing

Bir Francis A. Campbell, K.C.D.G., C.B.,

ko.,

&C.

BC.,

Foreign Office.

on