เ
Wt. 29446/552 9/46 50m. S. & S. Ltd.
C. O.
Boss
Mr.
5/6
J. B. Williams
Mr. Mayle
Mr.
Mr.
ipns
13.6
54126/4/46-7
Than
( отр DRAFT lypher off
GOVERNOR,
TELEGRAM
(54)
(53)
HONG KONG.
FURTHER ACTION.
.។
(32)
Сонго
& CA. (to brin
Permt. U.S. of S.
Parly. U.S. of S.
Secretary of State.
953 No... Secul-
Loan.
,
Codeed.com
Recuplared and Seat (OTP) 55
1200 14/6/47
Clas
Ansyst
14 JUN 1547
;
17
Your telegram No.889 presumably crossed my
telegram No.831.
further
Before considering timely your suggestion
that $50 million should be borrowed from
exchange fund I should be grateful for your
comments on proposal in my telegram No.831 that
provision in Bill snould be limited to
$100 million but that announce ent should be made
at time of Bill's introduction that powers might
nave to be sought at a later date for raising
further amount.
2. There are as you are doubtless aware
objections in principle to investing exchange
fund securities in local loans and there are
particular reasons at present time including
inflationary effect of such borrowing fromn
exchange fund which
exchange fund which would make it in my view
greatly preferable to avoid having to consider
I hope therefore that you will
such expedient.
•
feel that procedure proposed in my telegram
w21 No.831 will meet situation but I/await your
further comments.
IДawait
No comments yet.
Private notes are available after approval.