to be
why
4.
23
doing anything more than listen to this dissertation, and he
eventually passed on to a criticism of the conservative methods
of British business fims and financiers. The conservatism
of which he complained appeared to lie in their disinclination
to lend or lay out money without some security for, or reasonable
prospect of, its return. He represented that French, German and Czecho-Slovakian, not to mention Japanese, agencies were falling
over each other to rush in where the British, so desired by the
Generalissimo, feared to tread. In reply I mentioned of course Mr. Kirkpatrick's appointment to China on behalf of the Exports
Credit Department, but explained that such matters were outside
my scope as a Colonial Governor. As regards Hong Kong the
Chairman and he had already had an opportunity for discussion with some of our bankers and leading men the night before and would have a further opportunity that same evening. That indeed formed one of the great mutual advantages of their visit
to us.
This concluded our political conversation.
9.
I got the impression throughout the interview that
the Mayor was over-calling his hand on the cards given him to
play by the Generalissimo. Nevertheless I believe it true
that foreigners are ready to take more chances than we are in
South China and that, with the new regime's anxiety to hasten
development, British firms cannot afford to spend too much time
in bargaining if they are to obtain contracts. Mr. Tseng Yang-
Fu may even have heard the view expressed, as I have heard it
expressed recently in Hong Kong, that Britain might well write
off losses on export credits against savings on unemployment
benefit resulting from more work for her factories.
matters however are not for me; I merely wish to set out my
impressions and inferences gained in conversation.
10.
The se
Finally you will expect from me some assessment
of the value of the visit. It has certainly evoked a spirit
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