CO129-391 - Acting Governor Claud Severn Governor Sir May - 1912 [7-8] — Page 328

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After consulting the Attorney-General and the

Executive Council in the matter I issued instructions to the

Registrar-General to warn the promoters that the levy of subscript- -ions was viewed with disfavour by the Government; to watch by

means, of detectives any collectors who might continue to collect

subscriptions with a view to taking proceedings if any attempt at intimidation were made; to explain to the influential Chinese the attitude of the Government which is based on the principle explain- -ed to them by Sir F. Lugard in November last viz.:- that no

public fund should be started or advertised in Hongkong in aid of

the Revolutionary Government; and to inform them that the Govern-

-ment would use every endeavour to stop the collections of the

Company.

I myself saw the two Chinese Members of

Legislative Council and explained to them my wishes.

3.

On the 6th. instant the Registrar-General interviewed Li Yuk-tong and 3 of his principal supporters and explained to them the views of the Government. Li Yuk-tong

expressed regret for acting contrary to the wishes of the Govern-

-ment and said that it was now the intention of the promoters,

acting on the advice of Sir K'ai Ho Kai, to put the project on a

business basis by establishing under the Companies Ordinance a

bank in Hongkong to operate in aid of the rehabilitation of the

Canton Note Currency.

All attempt at public collection of subscrip-

-tions has ceased, and as far as I can ascertain the movement is

for the present in abeyance and is not receiving private support in

the Colony.

4.

Mr. Hallifax informs me that these financiers,

if one may dignify them with the name, talked of many schemes for raising Money. The one most in favour seemed to be a proposal to require all land-holders to re-register their title deeds and to make a charge for the Government chop on the new deeds.

5.