CO129-519-7 Hong Kong currency- minting of silver dollars 1-11-1929 - 5-2-1930 — Page 22

Mr. Gent.

CR

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Nites

Rapers.

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Pl. attach to #Kong

Exchan

Mr. Ezechiel, Mr. Davis, and I have had

some talk with Mr. Preston, Chief Manager of the Chartered Bank of India, etc., on the subject of Hong Kong currency.

Mr. Preston objects to the statement that bank notes in Hong Kong have been at a "premium", but his objection is really only to the use of the word, as in conversation he quite clearly admitted the fact. He told us incidentally that his bank has placed orders for the minting of Hong Kong dollars.

He said that it had been the practice of

the Hong Kong Government in presenting accounts to the hab I the

his debtors to print a note on them to the effect

that payment would only be accepted by cheque or bank note. Later on it may be worth while enquiring about this. We gathered that his bank would be

unlikely to object to a Government note issue on a sterling exchange basis, provided that the Government relieved the banks of their accumulation of silver

dollars, which they would obviously have to do if

such an arrangement were ever made. He doubted the

possibility of the Government making such a note issue, and maintaining it at parity, but the reasons for his doubt did not appear to any of us to be very sound.

A seems extremely odd

extremely odd a comhardly

be credited it w' mea

That the Gut

declined to accept. pay mont

vv

15.12.29

in regal currency

Anything is forth with Ussert

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