CO129-550-1 Estimates 1935 14-9-1934 - 15-9-1934 — Page 24

23

Hong kong has been late in feeling

the effects of the general depression

in trade. The serious reduction in revenue

which is now being experienced must

overnment

cause some anxiety, but the

have been prompt in taking measures of

retrenchment, and I think that we can

agree with the overnor that, having

regard to the general economic position,

the condition of the overnment's fin-

ances is not unsatisfactory. I agree

with Sir

.Campbell that, in view of

the particular difficulties in conn-

ection with currency and finance to which

Hong kong is exposed by its relations

with China, we do need in the Colony

a financial adviser of higher qualific-

ations and experience than the present

Treasurer, admirably as le may be fitted

to preside over the Treasury in a less

exacting milieu. Officers of the type of

(e.g. Sir 5.Foods are hard to come by.

as proposed.

#Rlowell

6.12.3

The S. ofs. may

T.

Si J. Maffey,

these menites.

2. As purposed

Wke to see

22. 6/12134

Am

6.11.34