صاصة دردم
8
41
Telegram from the Officer Administering the Government of
Hong Kong to the Secretary of State for the Colonies.
Dated 7th July, 1928.
(Received Colonial Office 12.4 p.m. 7th July, 1928.)
Repeated to Peking, unnumbered telegram of the
6th July.
Your telegram of 2nd July Canton loan. Regret delay
owing to corrupt copies of Foreign Office telegram to Peking
No 157 as received here. Facts of proposed loan are believed
to be ?generally as stated. Brenan by telegraph on July 3rd
states that Commissioner of Foreign Affairs informed him that
negotiations had broken down, but Hotung today informs me
that negotiations with Canton Government have not yet begun
and that exact details are still under discussion between himself
and Sassoon's representatives. I can only assume that Brenan's
telegram Refers to some other negotiations.
Hong Kong Government is in no way concerned in the
proposals but would on general grounds welcome any reasonable
effort to rehabilitate the finances of Kwangturg. Canton is
badly in need of money which it finds difficulty in raising
without foreign assistance, and in the light of our protestation
of friendship would probably regard as unfriendly act any
obstruction to loan on lines proposed.
It is difficult to
see what security other than two and a half surtax foreign
L
tenders would be likely to accept.
The loan is to be purely commercial transaction lasting
only ten months, and no support is asked for from this
Government. The advantage of the loan to Canton and to British
interests in South China might well outweigh any problematical
prejudice to course of future negotiations,
Opposition by
His