August 3:
BATAVIA RADIO (English 20.00 Tokio time, 16 metres):
166
Licut: General ISOGA, the Governor General of Hongkong, announced that the administration was carefully studying measures for the relief of those people who might have been adversely affected by the recent reduction in the value of the Hongkong dollar, which step was taken in conjunction with the estab- lishment of the new currency.
The administration intends to settle the matter
before it results in an acute increase of prices,
Explaining the financial policy to be pursued by the new Burma central administration, the secretary of the Treasury declared at a press conference that one of the first steps to be taken by the new administration will be the establishment of an adequate banking system. The collection of land taxes which was the main source of revenue of the former Government, will be continued. Wages of Goverment officials will be cut to half or one third of the former unnecessarily high salaries, in order to effect saving in the Government expenditure.
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