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into effect is a large one, and beyond the immediately
available resources of the Colony, But I submit that
the scheme for acquiring the Kai Tak property fully justifies the provision of the necessary funds by means
of a loan; and the legalisation by Ordinance of the
issue of Treasury Bills in accordance with the terms of
your Circular despatch of 28th June 1922, as the first
step necessary, will be undertaken without delay.
15.
The arguments in the despatch of Sir RE.
Stubbs, to which you refer, apply to the development of
the Air Force equally with other branches of the
Colony's defence: and I hold out no hope whatever of
voluntary assistance from private firms in support of
further expenditure for the Garrison or the Air Force.
The suggestion that British conccasions in China should
contribute to expenditure incurred in Tonkong, on the
ground that the Garrison is utilised wherever protection
is called for, is put forward very tentatively: and I
agree with Sir R.. Stubbs in his view that it is at
present no more than a line /
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