RECEIVED
COP
OR REGIS JUN 056
RATION
07787/06
C. O. F
Telegram from the Governor of Hong Kong to the Secret
of State for the Colonies.
113
D
Dated 24th June, 1936.
Received 7.20.a.m. 24th June.
No. 115. Confidential.
25. Your telegram No. 94 Confidential Salary
levy.
Approximate revenge end of Hay dollars (HK) 12,456,000 expenditure dollars (HK) 11,434,000 but the former includes abnormal receipts from estate duties and from early withdrawals from bonds in
anticipation of increased liquor and tobacco duties. Deficit in respect of May estimated at dollars (HK) 247,000 subsequent months are expected to show still larger deficit. Moreover the political situation in China and currency position in Canton likely to have adverse affect on business and consequently on revenue I therefore consider it would be imprudent to sacrifice savings due to payment of salaries at 1/444 for the third quarter and urge that original scheme beretained subject to small concessions for sterling dependants,