35
It is a
8. For some time part 1t has been noticed that the
policy of making Indochins a closed area to foreign
enterprise is being pursued more tenaciously.
short sighted policy as any one can see that capital emst
be introduced if the country is to be developed and at the
same time with a sadly depreciated frane the Frenela
Investor is not keen to send his savings here especially
now when attempte are being made to save the frane and
restabilise it. Moreover the foreign capitalist is
unlikely to interest himself in a country where the rule
that 2/3 of the directers must be French binders his
administering his own enterprises, where all foreign
import trade in discouraged and where he is at a perpetual
disadvantage with his French competitor, to say nothing of
the continual schemes to make the foreigner pay the greater
proportion of the taxation.
I have, etc..
(Signed) F.G. GORTON.
This Despatch has been addressed to London and Paris.
Copies have been forwarded to Hong Kong, Singapore
and Delhi,