193
that by Ordinance No.ll of 1934
montys appropriated out of the
Kevenue of the Colony for the
payment of interest on the Zonds
of that particular poan or for their
redemption are deducted from the Colony's
them are
assessed for
Revenues before the calculation of the
sums payable under the defence
Depares
Contribution.
The Treasury and the
War Office agreed to thiexemption as
a special concession, however, and on
the understanding that the claim to
treat Waterworks evenue, wherever
derived, on the basis of net receipts
should be abandoned. The Secretary of
accepted
State goods that arrangement (see
correspondence with the War Office sent
to Hong Kong in Cunliffe1Lister's
confidential despatch of the 7th of
March, 1933).
3. We fear therefore that if
you should borrow in due course to
See (16), (18) and (20)
on C.9262/32.
flagged
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