2.
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If
I am convinced that if the financial situation can be held in the next few weeks, the importance of Hong Kong, both to China and to British interests in China, will be out of all proportion either to the size of the Colony or to the quantity of effort devoted by His Majesty's Government to the maintenance of its finances. Hong Kong can be stabilised and made safe for the trader, it must inevitably, in my view, become a sheet-anchor for rehabilitation in the Far East; and I consider that in allocating shipments for re- habilitation the particular and advantageous circumstances in Hong Kong should assure the Colony a very high priority. I believe that even two thousand tons of cotton yam (admittedly a world shortage)elivered to Hong Kong in the next few weeks would have enormously beneficial effects, both in setting local industry going and in re-establishing trade contacts with China. I have not sufficient knowledge of Hong Kong trade to suggest alternative commodities, but I fancy that such goods as leather (from Australia) and timber ( from North Borneo) would also be valuable.