INWARD TELEGRAM
Cypher (0.T.P.)
/17/ 13
Orginal in 15488/46
FROM HONG KONG (Sir H. Young)
TO S. OF S.. COLONIES.
D. 5th February, 1947. R. 5th
No. 236 Secret.
15408/10/46
**
12.55 hrs.
My savingram No. 418 of 10th December, 1946.
Debtor creditor relationships.
Morse has again represented to me the
inconvenience caused by the continuance of moratorium and failure up to the present to reach any settlement in regard to debtor creditor relationships. In common with other banks, he is of course still bitterly opposed to any settlement on the lines proposed in your No.637 of 3rd August, 1946, though it is conceivable that, in order to secure finality, banks might accept the proposed scheme under prosent provided that valuation placed on any capital repayments could be made purely nominal. the meantime, it would assist considerably if moratorium could be lifted to the extent which I have suggested In the last sentence of paragraph 3 and in paragraph 4 of my
despatch. hs 98 of 16th Sep 1946.
In
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