CO129-488 - Governor Sir Stubbs - 1925 [1-7] — Page 506

77

including now--payment of inter

the Government to

of a telegram from the

DECODE

absolve th

from responsibility in the ave

192

+

Received in the Colonial Office at

on

any

securities not

being in ora.

as

matter is

of such

for

notes

arise

time

urgency does not permit of thoroug

- scruting & The Gorcinment will

after two years pay

the two banks

The two banks

issue

special

notes

any

on dimarti

balance outôt

shall be permitter

to the extent of t

covered by apps

advances

sterling securities to be specially 2"," with the Crown Agents for the Clomira Should this entail the Hong Kong Shanghai Bank holding less then

of

the total

noter issue in sit:

this stipulation to be temporarily u

Chartered Bank is

not required

Cover

in silver

and so is not

affected by this provision & show! Xivery demand for silver in exci

heavy

take steps to

government to

obviate danger

banks either by making

legal tender

to the

notes

by such

other

decided My

means

may

be

Executive Council.

agree

with

that

it is imperative to take these steps

in order to prevent most immediately in order to serious crisis which may damage the

Colony's

credit for many years, would be glad if you

and I

can approve

these proposals at the earliest possible moment

Governor