Hong Kong that H.M. grant will make assistance towards that.
9. Substantial loss making good the loss of revenue under the new policy, caused. The time has now come for deciding the amount of that assistance.
3. The question is one of some complexity. It appears to his Lordship that it is impossible to find a proper basis for calculating the indirect losses which the Colony will sustain. It is counted that such losses will occur owing to the dislocation of trade caused by the changes which will be introduced, but his Lordship's opinion is that this factor must be left out in settling the amount of the grant to be made by H.M.
4. The question, therefore, with which it is necessary to deal is that of the direct loss to the Colonial revenues. At first sight it would seem that there is ground for arguing that H.M.'s Government should make good the whole of this direct loss, since it is due to the policy.