(2/48) [16] Wt. 19126/754 50m. 7/48 C.N.Ld. 748
54466
50
12
O.
Mr. Morris 15/2 Mr. Sidebotham 16/2 Mr. Gouell Bames 1/2
Suilt Printing
Mr.
Mr..
DRAFT.
LETTER
Your Reference
Permt. U.S. of S.
Parly. U.S. S.
Minister of State
Secretary of State
CONFIDENTIAL
Lettersent. 20/2.
Just
Ansd. (1) on 50.
For Sir Dd. Poynton's sig
C. F. Cobbold, Esq.,
Bank of England,
Threadneedle Street,
E.C.
FURTHER ACTION.
We have been considering for some
time whether, because of the complexity
of its trading problems, it would not be a
The Government of. good thing for thei6overman of Hong Kong
economic
to have an adviser, who would probably be
called an Economic Secretary, on his its
staff. The import and export trade of
the Colony are very large and, although
there are quite a number of important
local industries, its economic health
is based upon its large entrepot trade.
It is a fairly recent development
for Colonies to have economic advisers
appointed to them and several of the
larger Colonies now have such officers
under a variety of titles. The advantage,
of course, is that they then have a man
with considerable theoretical and
practical economic experience, who is not
too much tied down to departmental duties
and can give advice on the broader aspects
of economic policy. The difficulty has
always been to find men of the right
calibre and experience who are willing
/to