CO129-576-10 Estimates 1940 6-10-1939 - 22-10-1940 — Page 60

No. 722.

23652/37

2

60

GOVERNMENT HOUSE,

HONG KONG.

ED

17th November, 1939.

20/54002/39

.1.

Enclosure o.1

Amid

Sir,

29 NOV 1939

C. O. REGY

I have the honour to refer to my despatch

No.651 of 6th October, 1939, with which I transmitted

copies of the draft estimates of revenue and

expenditure for 1940-41 as introduced into Le islative

Council on 12th Cctober, 1939, and also to my despatch

o.655 of 13th October, 1939, with which I transmitted

copies of speeches made by myself and the Financial

Secretary at the meeting of the Le islative Council

on 12th October, 1939. I now transmit copies of the

revised draft estimates which were approved by the

Legislature after a debate which began on 9th November

and was concluded on 16th November, 1939.

2.

The original draft estimates for 1940-41

were of course prepared before the outbreak of the

war wit Germany, and, as explained in the Financial

Secretary's memorandum, which accompanied them, were

framed on the assumption that the economic activity of

the Colony would be maintained at not far short of its

1939 level and in partic lar that there would be no

THE RIH HONOURABLE

ALCOL MACDONALD, .P.,

&c.,

&c.,

&c.

Page 60Page 61

61