CO129-438 - Public Offices - 1916 — Page 269

liquidations,

now that

head office debts are

to be

admitted,

we shall have No

writi

to Treasury similarly about Westafrica, Stat

? Ceylon.

This paper should be noted both in the Earlem. W. A & General Dept for

action when we have rophies on the

wha.

new

Liquidation policy

AMB 24/7/16

Note made on

40/565787/15 Waf

Outt

257/3/16

cf. upps.

Hal 16.3.16

4:16.

Amend

18 Mark

B. 21 21/3/16

3

AS.M.22.3

Any reply to this letter should be addressed to-

THE SECRETARY,

TREASURY,

WHITEHALL, LONDON, S.W.. and the following number quoted.

31044

15

sir.

TREASURY CHAMBERS,

263

29

February 1916.

9936

REC

REGI MAR161

I have laid before the Lords Commissioners of

His Majesty's Treasury r. Read's letter of the 23rd

mo December last (54364/15) and its enclosed copy of a letter from the China Association relative to the financing of British and German trade in Hong Kong and China.

The questions raised by that letter are of undoubted importance and Their Lordships are communicating, in regard to them with the Board of Trade who, as They understand, have under their consideration the general subject of trade problems after the war, including the question of the use by foreign firms and institutions of London credits.

In the meantime, Their Lordships are hardly in a position to deal in detail with the various points raised by the China Association, but They must not be understood as in any way accepting the suggestion, in support of which no evidence is offered by the Association, that the London Accepting Houses have been in the habit of giving a deliberate preference to German firms established in China over British firms doing a similar business.

Further while it is no doubt the case that advances had been made by the Bank of England under the Government scheme to London acceptors of bills which had been draw before the outbreak of war for the purpose of

financing

The Under Secretary of State,

Colonial Office.