Ca
TELEGRAM
To:-
Draft
*
File No.
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SAVINGRAM
*The word Priority may be entered here, if necessary.
GOVERNOR, HONG KONG
Mr.
Mr........
Palmer
11/3
Wallace 11/3
12/3
Mr. Sidebotham.
Mr..
Sir
Permt. U.S. of S.
Parly. U.S. of S.
S. of S.
Repeated to:-
Priority:-
NXX
Raxx Important.
boxtlamatioXEX.
To be transmitted :-
Code
xxxxxbxex
53652/49
Sent.
264
Code.
17.45 hours.
12.3.1949.
No: 285
*******x
Confidential.
XXXXX
XXXXXXXXXXX antxixerxxXXX
REC
X
(1 and 2)
(40 on 1948)
Insent from west jage
(1)
(5011948)
Distribution:—
COPY TO:
Your telegrams Nos. 173 and 174.
1949/50 Estimates.
I am very grateful for this useful summary of your
proposals and have the following comments.
2.
I note that H.M.G.'s grant of $16,000,000 will be
included in the revenue. Local revenue is thus
•
estimated at $164,000,000 compared with $174,000,000
estimated for the current year (see your savingram
No.47). It seems possible therefore that the
estimate of $164,000,000 is a conservative one and
that a surplus may in fact be achieved in 1949/50
especially if the proposals in paragraph 10 of your
telegram No.173 are approved.
>
to my tobogan 0.3579.948 Lttoned the
Nevertheless all the arguments in favour of demotility girl Caption in order, inte increased taxation advanced in my telegram No. 357 to andass the pressure a lo
of 1948 still hold good, viz.-
Substantial reassa aint posible Glaner years
(a) reducing pressure on loan funds
Ale han o (b) creating substantial reserves against
and to check inflation
(i) R.B. MOBERLY, ESQ., (TREASURY) e fald Gord
(ii) 54126/4/49 (Loan)
Further action:—
possible leaner years ·
or yea
(e) checking inflation
(d) reducing any demands on H.M.G.
In particular the desirability of checking inflation is
even greater now than last year in view of the recent
Wt. 15855/746 5M 6-48 W2. & Co. 51/3 Wt, 29377/790 50M 11-48 Wa & Co. 51/3.
considecab./
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