To the Editor of the "Norra-Cama Dairy News."
Sir,—As Mr. Edward S. Little's letter published in your issue of to-day's date under the heading "The Council and its Ways," is calculated to mislead the general public, I am directed to point out that the Chairman of Council for 1919, Mr. E. C. Pearce, when speaking on the Amendment to the Budget Resolution proposed Mr. E. I. Ezra and seconded by Mr. Little, that for the payment of the Electricity §Department's contracts in Europe and America, the Council gives its careful attention to the desirability of issuing gold loans in sterling or gold dol-Jars," very clearly stated that although the incoming Council should be given an absolutely free hand, "most of the outgoing Coun: cil are inclined to think, that in the first instance it would be well to try a simultaneous issue of a straight 7 per cent. silver loan at 90 to 92} per cent., and a 30 year gold loan on the basis already outlined." This view of the Council for 1919, has been put into effect by the Council for 1920. Mr. Little's memory has obviously played him false.
I am, ete., N. O. Lippe.
Council Room, Shanghai, May 7.
Text read from the printed page and cleaned; old type leaves the occasional error.