73
portionlarly with reference to the buggestions for veising additional revenue put or hard in paragraph 2 of my telegram No. 600. The raising of such revenue is, of Course;
also most important from the point of view of the Golony's prospects of raising a 1082. to say with reasonable certainty that there would be a
If it were possible balanced budget in 1947/48 that would probably improve Give prospects.
As to the second point, I note from paragraph 13 of your despatch No. 48 that you are advised that it would not be possible to float a local loan at a rate of interead lower than 3% and that it seems improbable that more bben 726,000,000 would be subscribed, Should be glad to leoza
what would be the other terme of such a con, namely pries of iscue and poriod, have your acceptance of the principle proposed in (2)
In any case I ehould be glad to paragraph 2 of this telegram, 32% for a long tera local loan or say 20 - 25 geary soule It is consi÷ercă here that act be unduly high in present circumstances of Hong Kong,
5. Grateful for your reply to thie telegrim us Boul SB possible, Meantime further consideration 12 being given bere to the items of special expenditure included in the estimatas amounting to some $77,000,000 which, if approved, will fall to be finenged under the arrangemente discussed above. You will no doubt be considering what other projects, if ary, should be provided for and sub nit details,
*
No comments yet.
Private notes are available after approval.