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some length at the meeting of the Chamber of Commerce and at the public meeting, was the financing of exports from Europe on account of German merchants here by London Acceptance Houses. This matter has been the subject of correspondence and it has been pointed out that before a verdict can be pronounced upon the in- -fraction by merchants of the conditions of the letters of lien, it is essential to learn whether or not the Financial Houses in England were cognisant of the irregularity. It has been ascertained that two British Banks in the Colony were so cogjemt, and I have to remark that I know of no remedy for the irregularity if the principals in London and the Banks through whom their letters of lien are negotiated do not take the trouble to protect themselves.
The suggestion that enemy subjects, when re- -admitted, should be under licence, in similar manner to British merchants in Russia, will no doubt also receive your considera- -tion. I have no knowledge of the Russian system, but as at present advised I have little faith in effective control by a system of
licensing.
9.
Regarding the question of residence of friendly oliens two very useful messures, affecting persons of other than Chinese race, have been enacted during the war in the Registration of Persons Ordinance, 1916, and the Travellers Restriction Ordi- -nance, 1915. I am strongly in favour of having the first of these messures permanently on the Statute Book and of retaining Section 14 of the Travellers Restriction Ordinance, with penalties for infraction, and the powers of deportation in Section 13. Such power is very desirable in a great defended Port and Naval base
like Hongkong.
10.
The question of the better control of the trade of friendly aliens, more especially of the Chinese, is one of great difficulty. I need only refer to the problem of the compulsory registration of Chinese partnerships, a problem which
hitherto
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