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I
justify the expenditure that would be necessary".
urge with all the force that lies in me that nothing
will be left unaone to determine immediately this
fundamental question before the last hour of the present
very favourable opportunity passes. if I can help in
assembling "data for calculating the commercial importance
of Hong Kong to British trade and estimating the present
value of an extension of the lease of the New Territories"
(cf. Cowell passim) I will, of course, do so, but I should
be glad of some advice how to set about the job.
4. But there is a further point for consideration.
Assuming that inquiry does show that the value of Hong Kong
to British trade in the Far East is such that it is worth
while to secure its survival as a British Colony by the
payment of a large sum of money to China for an extension
of the New Territories lease, the equally important question
whether that bargain should be attempted now or at Sole
later date will then have to be consiuered.
5. Sir John Brenan made it clear at the discussion
of August 26th (vide pages 4 and 5) that except under the
strong pressure of circumstances China would be unwilling
to grant such an extension: indeed the history of the last
hundred years goes to show that in normal times she would
avoid taking any step that would prolong the hold of
Great Britain on any part of Hong Kong including the
British-owned territory. If this opportunity is missed
we must rely upon an equally favourable one turning up at
the right time in the future a long-range, hazardous
gamble in any case and it must be remembered that time is
and will be increasingly against us. For as the expiry-date