CO129-489 - Governor Sir Stubbs & Sir Clementi - 1925 [8-12] — Page 275

Sir,

Hongkong 1st October, 1925.

275

We have the honour to enclose in original a

letter which we have received from the Chairman of

the Chinese General Chamber of Commerce embodying

two resolutions passed by their General Committee

in regard to the Trade Loan of £3,000,000 to be

made by the Imperial Government.

We venture to join in the expression of

gratitude to the Secretary of State for the Colonies

and to His Excellency the Governor and the various

officials who participated in the deliberations,

for their practical sympathy and the readiness and

despatch with which they have handled the matter.

The announcement that the loan had been approved

has already been sufficient to have a quietening

effect on the money market, and it is no exaggeration

to say that it has saved the Colony from economic

ruin. This great gesture from His Majesty's

Government has completely dissipated any dissatie-

faction and bewilderment which the public might have

at times manifested on account of the apparent

inaction of the Home Government in regard to the

situation in Kwongtung and Hongkong.

We have, etc.,

(sd.)

CHOW SHOU SON

(sd.) R.H, KOTEWALL.

Honourable

Bir Claud Severn, K.B.E.,C...G.‚LL.D.,

Colonial Secretary.