CO129-605-4 Government loans 12-7-1946 - 6-1-1948 — Page 201

Wt. 49614/485 3:46 50m. S. & S. Ltd.

54126/4/46

C. O.

Mr....Mayle

Mr.

3/8/46 Emanuel 30/8

Mr.

Mr.....

Permt. U.S. of S.

Parly. U.S. of S.

548

Secretary of State.

Desp. 31/8.

2061

August, 1946. August,

DRAFT.

LETTER.

R.L.M. JAMES, ESQ.,

TREASURY.

accpg. dft. tel.

FURTHER ACTION.

Copies wit eve. to Goldberg.c.A.

Owen

Toy!'

Excell B/E.

Dear James,

Many thanks for your letter S/52892/04

of the 29th August enclosing comments on our

draft telegram on the subject of Hong Kong

finances.

On further consideration, we feel

that the retention in this telegram of the

reference to the unfavourable loan prospects of

Hong Kong might cause a certain amount of

perturbation and perhaps lead to some

discussion of what is at the moment an academic

point, and we think, therefore, that this

reference should be omitted.

This has been done in the revised draft,

of which a copy is enclosed and which

incorporates the amendments you suggest with

two exceptions:-

(a) It does not include in paragraph 2

(old paragraph 3) the words "which could

not easily be justified in face of

persistent reports of existence of

considerable wealth in the Colony" which

appear in your proposed re-cast of this

paragraph. I was not aware of persistem

reports of existence of considerable

wealth in the Colony, as distinct from

South China, and I think that assistance

from