CO129-523-12 Currency situation 17-2-1930 - 9-7-1930 — Page 102

RECEIVED

25FEB 1930

FFICE

CR

72796/301

2

122

4, MILLBANK,

WESTMINSTER

LONDON, S. W. 1.

(VICTORIA 7730)

24th February 1930.

My dear Vernon,

Last Friday I happened to see Sir Newton Stabb,

Manager of the Hong Kong and Shanghai Bank, and I questioned

him about the Hong Kong currency. He expressed the opinions

(1) that the present currency system of the Colony is

not a sound one and is damaging to the Colony's

interests;

(2) that it is urgently necessary, and should be possible,

to find a satisfactory solution, to the present

difficulties;

(3) that an expert committee ought to be sent out from

England to find such a solution.

These views, which were entirely his own, coincide

exactly, as you will remember, with those which I expressed

to you after the last Palestine Currency Board meeting a week

ago.

"The heathen Chinee is peculiar", and for that reason

alone I feel that no doctrinaire solution should be attempted

R.V.Vernon, Esq., C.B.

e

باسيل

without/