CO129-434 - Governor Sir May - 1916 [7-8] — Page 508

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REC 2 OCT (6)

THE HONGKONG GENERAL CHAMBER OF COMMERCIE,

STRICTLY CONFIDENTIAL.

Sir,

New Government Building,

Des Voeux Road,

Hongkong.

5th August, 1916.

t

I am directed to acknowledge your letter of the 8th July, 1916, covering copies of correspondence with the Secretary of State for the Colonies relating to the financing of British and German trade in Hongkong and China.

My Committee has only this comment to make thereon! First class British firms could undoubtedly have obtained the same facilities, but "facility" would be an actual misnomer if the strict terms of the lien were carried out, for then the question of the renewal of the Bills would have to be dealt with and the method in most cases would prove more expen- sive than the ordinary British system of drawing through Eastern Banks.

The Honourable,

The Colonial Secretary,

Hongkong.

I am, etc.,

(SD.) E.A.M.Williams,

Secretary.