CO129-488 - Governor Sir Stubbs - 1925 [1-7] — Page 500

spe

atto

я все ня

to Banks had stipulated

wittle simpuried that

guarantee.

He expcomind that the Mengen Bewerter

h

Curr

husnico

laye

Gaðven

Cinesand

on the Chris

Banks; cupt

f

gamist decantes)

white

atta

7% with

the Freifun

Bantin

adranc mely

th

seen whis

Lay

at 7%

t

Chri

Banks

ADVAN

пор

to 907,

value

The Gremsti

vjet 12% interest.

mainly shares in public

utility compris (4.

* be Keought

A

that

A

to sorre extent

"ales property)

buit of 1/3 of the

admed by the

wð. make the

anagement

best park of

Chui une

Banks

prite safe.

heaper

tel.

be Hay Kop

Ke securitie

MJ.

he thought

Apte

Luce hi

--

Ali

to HA

Baskis

eave have been sufficiently

? We had better now send copy of

C.A. 09. LF

888.

$17.

G.G.22.16

with For

Cover L

1/23/7/25

Atuu

reply

please quote Regd. No.

URGENT.

Dear Mr. Paskin,

483

TREASURY CHAMBERS,

WHITEHALL.

30th June, 1925.

The following statement represents the

Treasury views on the telegram from the Governor of

Hong Kong, dated the 29th June. It is in a very

summary form, but I do not want to waste time by turning

it into an official letter:-

1. In no circumstances are H,H. Government

prepared to accept any liability, even contingent, and

this should be made perfectly plain to the British

Banks.

The guarantee can only be that of the Hong Kong

Government.

2. It seems obvious that the resources of the

equal

Ca Colony are not the propping up of credit over a large

The British Banks operate widely

part of China,

outside Hong Kong. Is this sc also with the native

Banke? The Governor is not justified in any stess which

are not sebely directed to his ow Colony.

J.J. Paskin, Esq.,

13.

Colonial Office.