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RAVIS:2 TaLaQRAM (CODE)
TO GOVERNOR, HONG KOM!,
BECEIVED
3SEP 1946
LOFFICE!
Immediate
→ No
Coded Vent 18.45 hrs 2.9.46
No 8.11
My telegram Ro.500 paragraph 4.
ors.
#
199
Crom Agents for the Colonies are prepared to finance
advance special expenditure temporarily by advancos
from Joint Colonial Fund at bank rate varying on
security of appropriate loan ordinance.
They would also
require assurance that in the event of the advance
from Joint Colonial Fund having to be repaid and
in London.
prospects of market loan, being unfavourable, Treasury will undertake to provide necessary funds.
2.
This of course involves assistance from U.A.
funds and Treasury will not feel able to agree to any
assurance on above lines unless they are satisfied
(1) that every effort is being made to raise maxiMM
additional revenue whether from new taxation or
increase of existing taxos; (2) that before recourse is
bilitie
had to London, possibilities of a local loan should
be exhausted on basic mentialed in paragraph 4 of my
telegram No.600, Haicly that the tarms should not be
appreciably less favourable tha. those obtainable
in London.
3.
1 should accordingly be glad of a
information and assurances you can give me on the first
point, particularly with reference to the suggestions
for raising additional revenue put forward in
paragraph 2 of in, telegram No.600. The raising of
such revenue is, of course, also most important from
the point of view of the Colony's prospects of raising
a loan. If it were possible to say with reasonable certainty that there would be a balanced budget in Owen (Treasy) 1947/48 that would probably improve the prospects.
Comics to
Ashe
Miss Famer
Goldon
ठीक
4.
As to the second point, I mote from paragraph 13
of your despatch 10.48 that you are advised that it
would not be possible to float a local low at a rate
of
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