reason why this should not be done by telegraph
ould
without comment. We shall follow up by a despatch
referring to correspondence on other papers
regarding the question of issuing the balance of
the 1934 loan and saying that the Governor will
no doubt transmit a further report as soon as the
controversy, regarding the imposition of income-tax
or alternative sources of revenue to meet special
war expenditure, has been settled as a result of
the further consideration of the problem in
Hong Kong.
Entent
3.1.40.
I agree to the action Mr: Gent proposes.
I do not under-rate the importance of the criticisms
which have been made as regards these estimates; but,
in a situation which involves so many important but
uncertain considerations, it seems to me that the
wisest course is to accept the opinions of the
local authorities. They are much closer to the facts,
and are in a much better position to assess the
probabilities, than we are here.
¡
I have read mr: Caine's vigorous speeches with
much interest--and some amusement. And I am the
more ready to accept the estimates here, without
comment, as they are nis handiwork.)
The 4th: January, 1940.
لالية
4/1/460