CO129-554-1 Loans for public works 13-3-1935 - 30-11-1935 — Page 14

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53593/35 [No.9]......

bepy to 34. Kong (10)

Tel. No.- Whitehall 9400.

Any raber communica 1 on this

subject sho

be addre

-:C

The Under-Secretary of State,

The War Office,

and the following number quoted.

London, S. W.1,

16/Abroad/276 (F.1

Sir,

2

NATIONAL

SCHEME

KED MEN

FOR DISA

OF

PRINTED FOR US

150.

COLONIAL

OF

THE WAR OFFICE,

61

9

LONDON, S.W.1.

September, 1935.

13

75

I am commanded by the Army Council to refer to

your letter 53593/35 of 10th May forwarding a copy of a

despatch from the Governor of Hong Kong regarding the effect on the military contribution paid by the Colony of the inclusion in the new 31 per cent dollar loan of an item for the redemption of the existing 31 per cent

sterling inscribed stock of the Colony.

I am to say that the Council have given careful

consideration to the explanations furnished in the memorandum by the Colonial Treasurer, and they note the view therein advanced that the amount of the military contribution is not likely to be adversely affected over the period of years, taken as a whole, of the currency

In the circumstances of the new 32 per cent dollar loan.

they will not in this case press further their objection

to the substitution of a loan which is exempt from

The Under Secretary of State,

Colonial Office.

military/