the basis of our proposals or something like
them, detailed Treasury control of Hong Kong
There would have to he finances should terminate. This would not
of course)
rule out an arrangement to keep the Treasury
informed of Hong Kong's financial position
until such time as it is firmly re-established.
It would, however, relieve both the Colonial
Office and the Treasury of the correspondence
and time and labour involved by the detailed
Treasury control of Hong Kong finances, and it
would, we suggest, encourage the Colony itself
to take the necessary steps to make its
financial position secure. In view of this
proposition, we are not pursuing at the moment
the question of the exact form of detailed
Treasury control referred to in Serpell's
letter of the 23rd December (IF 16/10/02).
5. I take it that there is no need [for
.wheat
or me
to set out the general arguments in favour of
a grant of financial assistance by H.M.G.
towards the territories in the Far East which
were occupied by the Japanese, at a time when
H.M.G. was in no position to carry out their
defence responsibilities towards them. These
general arguments seem to have been accepted
the case of Burma and have, I imagine, been
implicitly-accepted in the case of Malaya by
the consideration now being given to the
proposal to make a grant and an interest-free
Malaya
loan to the territory to assist in meeting
J
In view of the
Comprehensive way in which the subject is dealt with in
Grantham's denfalch, it' in perhates unnecessary
the cost of the war damage compensation scheme¿mplies at least that the...
however
Stress
To the general arguments I should like to add,
in the case of Hong Kong, the particular
considerations referred to in paragraphs 27
ud 35 of the Governor's despatch, of which
are not rejected in relation 15 the Far Eastern tear loves
Ivent