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The 11
CONFIDENTIA L.
Ca.
17386
Sir,
FG923 SFP 12
GOVERNMENT HOUSE,
HONGKONG, 2nd. September, 191..
I have the honour to acknowledge the receipt
of your Confidential Despatch of 13ta. June addressed to the
Officer Administering the Government in which you ask for an expression of my views as to the method of which the sun required to cover the cost of the site of the terminus and to complete the construction and equipment of the Railway should be met.
After careful consideration I agree with Mr.
Severn in thinking that the liabilities in question should be met by an addition to the Colony's Inscribed Stock. In view of the large expenditure required for Public Works at present in hand and likely to be required in the near future; to the uncertainty of the present high rate of exchange being maintained; and to the pre- -carious nature of the revenue from opium, it is difficult to see how these liabilities could otherwise be met without seriously
affecting the annual budget for some years to come.
3.
I should therefore be led if you would instruct the Crom Agents to make arrangements for the issue of £200,000 Inscribed Stock at such time during the next nine months
as appears to them most favourable for the issue.
I have the honour to be,
Sir,
Your most obedient, humble servant,
HE RIGHT HONOURABLE
LITIS... RCOURT, 1.P.,
و ماننا
Governor,&c..