CO129-606-2 Treasury control over Hong Kong finances 22-1-1948 - 9-12-1948 — Page 44

[7713] Wt. 40552/714 50m 2/48 C.N.Ld. 748

C. O.

Radford

29/8

Mr..

Wallace

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Mr. Agreed by Mr. Bourdillon

54126/5/48

C. D.

R. -2 SEP

D.

3

Permt. U.S. of S.

31/8

Parly. U.S. S.

Mr. Paskin

Mr.

DRAFT.

I. P. BANCROFT, ESQ.,

TREASURY

FURTHER ACTION.

Your Reference

(17)

Minister of State

Secretary of State

For sig. If on Wallan.

Ans'd, (24)

Dear Bancroft,

I enclose for your concurrence

a draft despatch to Hong Kong about

the arrangements to replace Treasury

control which were foreshadowed in our

telegram No. 611 of the 1st June to

Hong Kong.

2.

You will note that the arrange-

ments now proposed differ in one or two

respects from those mentioned in our

telegram No. 611. First, you will recall

that at a meeting at the Treasury on the

28th June it was agreed that quarterly

instead of monthly reports of financial

trends in Hong Kong would suffice, and

this alteration has been introduced;

secondly, paragraph 3(a)(iv) regarding

loans has been added for obvious reasons;

thirdly, the specific requirement of

approval of new posts "as provided pre-war

in Colonial Regulation 267" has been left

out because Colonial Regulations are in

force and to single out one of them for

mention in this way conveys the inference

that others may be ignored; and, fourthly,

the