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2. I note in particular that, as reported
in your despatch No.844 of the 21st of November,
(4)
1938, you propose to keep the position with
regard to revenue in Hong Kong constantly under
review, and further that, in the event of any
deterioration in the Colony's revenue position,
it will be possible to curtail further
expenditure of a non-recurrent character as
well as to defer expenditure on certain maintenance
items.
I have, etc.
(S§O), WALLULm macDONALD