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comprehensively in due course with full details in the manner that claims for exemption of revenue from assessment to contribution are usually presented, showing clearly in each case the grounds on which the exemption is claimed and the financial effect on the contribution as at present calculated.
If you agree with the procedure we have outlined above we suggest that your draft letter might be amended on the enclosed lines. The alterations are not substantial except that in the sentence beginning "On the other hand, since the deliberations we have deleted the portion from "and it may equally be argued " to "at the time when the present percentage was fixed"
was fixed". It has always been accepted that new sources of revenue are automatically included in the assessable revenue.
We have mentioned our views to the Treasury and have shown them the new form of the draft letter with which they agree. Your official letter does not express any views on the despatch from the Governor of Hong Kong, No.400 of 10th September, 1929, enclosed with it and we will reserve any comment upon this particular claim for exemption until it is presented with the other claims.
If you agree with the course we suggest and with the amendments suggested to the draft letter, we will send you an official letter formally with the amended draft.
Yours sincerely,
Rawway
(1) on 62916/24