370
Commission, namely 1 January, 1947, should be
adopted. Any representations based on assurances
referred to above might be answered by referring
to the general financial situation and to the
proposals as affording reasonable relief, having
regard to that situation. In the case of assurances
which contained the words "if possible", it might
be pointed out that those words referred especially
to the financial situation.
7. The last sentence but one of proposed
message has been included as it is thought that it
might assist you. Outstanding points which have
been raised here regarding salaries and allowances
should be settled within next three months, but I
appreciate that in fixing date to be given in this
sentence it will be necessary also to allow time
for new salaries and allowances to be calculated
locally and for arrangements to be made for payment
of arrears. If you feel that it is not possible to
give a date at this moment, or that the date would
be so far ahead that there would be no advantage in
mentioning it, I should of course have no objection
to this sentence of the announcement being omitted.
8. As regards payment of arrears I suggest
that as payment of whole amount in case would tend
to increase present inflation, substantial part of
arrears should be paid in savings certificates, or
possibly in holdings in proposed Hong Kong Loan.
You will no doubt consider and decide whether it is
desirable to make any reference to this possibility
in proposed announcement.
h
(Governor General only & Please paso copy to
Governa
as
No 1244
Immediali &
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