Palmer.
54126/4/46
DRAFT CODE TELEGRAM
NO.
GOVERNOR,
HONG KONG.
ONE.
1
Your telegram No. 990.
180
Raising of Loan.
This matter has been discussed
with the Treasury and it is considered
that you should now arrange for the
introduction of legislation providing
for the raising of a loan of $100,000, 000
for the rehabilitation and re-equipment
of the Government, subject to your
being satisfied that the amount in
question is appropriate in the circum-
stances. Power should be taken to
raise the loan both locally and in London.
I agree to the terms of the local loan
referred to in paragraph 4 of your ·
telegram.
TWO.
It is sugested that you review
the items included under special
expenditure from the point of view
whether certain proportion could not
reasonably be charged to revenue rather
tian to loan funds on the grounds that
the replacements for which provision
is made include an element of renewal
which would have been required in any
case had the territory
7er been
1
Poccupied
No comments yet.
Private notes are available after approval.