Now being sent with letter to Bol R. Edmonds.
116/3 4/45/2 To fee
20
about H.K's continual expectations of recessions in one direction or another; this is said by H.K. and caution advocated despite the fact that H.K. is holding simplers balances which,
as
In Palmer has pointed out so/5, Estimates fill, may soon
to be However there
Qu
& factors
be so
on the laye
embarassment to the Governor.
are
a
so many imponderable factors
over which H.vs. has
which have
a
bearing on
that the Governor is
по
Control
H.K's finances
no
doube night
Gobe
We have
Cautions to retain adequate suplus balances to meet contingencies.
recently suggested in Connection with the sols, Estimates that these balances
may
now have reached
be described as
a figure
that can
adequate & that the
Surplen
over o
above 6 months
попрал
revenue should be used f
We revenue
finance capital works which would otherweri
be financed from loans funds.
а
copy of (26) should go to m
R. Marris (Treasury) who has now taken
from Un Moberly. Regesting to send
Over
w/comps.
P. Panclough
of 14/3/50
Ingice. There is, vrhaps
a
danger
that the financial position may appear both to the Unofficials ofthe Leg Co. ( und Me Treasury! I li be
is,
mo
to
stronger than I actually
therefore the unofficials may oppose
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