CO129-597-3 Estimates 1950 22-2-1949 - 3-11-1950 — Page 59

53652/49

DRAFT TELEGRAM FOR TREASURY CONCURRENCE.

FROM THE SECRETARY OF STATE FOR THE COLONIES

TỎ THE GOVERNOR, HONG KONG.

ENTIÁL

CONFIDENTIAL.

59

!

Your despatch No. 92 confidential.

Estima tes.

I am very grateful for this clear

undhatim exposition of the situation and for statement

is you ennsy

of possible future loan requirements. I

approve 1949-50 estimates,

2. I must warn you, however, that I am still

by no means satisfied that some further increase

in taxation is not both desirable and possible,

and I shall revert to this point in despatch

which will follow as soon as possible. Apart

from reasons which have already been advanced

for desirability of increased revenue and

apart from likelihood of increasing liabilities

with which Hong Kong may be faced, there

infot Sarisk is also the point that H.M.G. must be satisfied

that all local resources are being fully

exploited before they could in present

con prehuman

2. ve

Uncinuelas

circumstances consider facilitating access by

any Colonial Government to the London Market.