CO129-504-10 Currency system- premium on bank notes as compared with British silver dollars 10-1-1927 - 30-8-1927 — Page 8

hi honing to R33

...

200486 ?

8

RECEIVED

31 AUG 1927

COL.OFFICE

4, MILLBANK,

WESTMINSTER,

LONDON, S. W. 1.

30th August 1927.

hos

enclos

ما

noy

Dear Ellis,

HONG KONG CURRENCY.

I have not been able to reply earlier to your

note of 16th August, as I have been away on a short

holiday.

The reply from the Hong Kong and Shanghai Bank

seems to me very unsatisfactory, and does not convince me

of the necessity for any separation in the values of the

note and the dollar. I still think that the present

system is neither sound nor safe, and that the position,

though no doubt difficult, ought to be remediable.

Would it not be worth while to have it investigated by a

small independent committee?

I am choked up at the moment with work left

over for me, but I hope to look in and see you in a

few days.

W.D.Ellis, Esq.C.M.G.

f

Yours sincerely,

Phechees

Page

Page

P

Mr.

Mr.

Mr.

Mr. E. J. Harding.

Sir C. Strache.

Sir J. Shucburgh.

Sir G. Ghindle.

Sir C. Davis.

Sir Wilson.

M Ormsby-Gore.

Earl of Clarendon.

Mr. Amery.

DRAFT.

P.H.

15/8 /

Ezechiel for

Cime

famysig

D

C. D. R 15 AUG

30419/% H.Mong

5

Augur 127

Near bywhist Stran

transmit

a

the for.

4 Hillay trammill; by the leaking 4 Way

a mine

Maragi

ہو

Jai

A. A..

7 Pherglar Bark the subject of s

on

A

on notes in

What Clay-Pestof. at your luiere

fuck to meant

it

(BİNANI WALTER 9. ELLIÐ

۶

ge 9

ge 9

Page

Page

4

N CONFIDENTIAL.

30148

RECEIV

$1 JUL.192/

COL, OFF

4

7 10

GOVERNMENT HOUSE,

HONGKONG. 10th June, 1927.

Sir,

no3

4/15. 16 aug 27

I have the honour to acknowledge the

receipt of your confidential despatch of 14th April, 1927, on the subject of the premium on Bank Notes as compared with silver dollars in Hong Kong.

2.

The Honourable Mr. A.C. Hynes, Acting

Manager of the Hong Kong and Shanghai Banking Corporation, has been requested by the Colonial Treasurer to furnish a memorandum on this very complicated and technical matter. A copy of his reply is enclosed.

3

I support Mr. Hynes' suggestion that,

if further information is required, reference should

be made to Sir Newton Stabb or Mr. A.H. Barlow, both

of whom have great experience of local conditions. Communication with these gentlemen can be established through the London office of the Hong Kong and Shanghai Banking Corporation at 9 Gracechurch Street E.C.

I have the honour to be,

Sir,

Your most obedient, humble servant,

THE RIGHT HONOURABLE

LIEUTENANT COLONEL L.C.M.S. AMERY, M.P.,

&C.,

&c.,

&c.

Governor, &c.

ge 10

ge 10Page 11