CO129-606-2 Treasury control over Hong Kong finances 22-1-1948 - 9-12-1948 — Page 47

(7713) Wr. 40552,714 50m 2,48 C.N.Ld. 748

C. O.

r. Radford

Mr. Wallace

3-29/8

54126/5/48

47

Permt. U.S. of S.

See clean draft-

the

Mr. Agued by Th. Bundillon 348 Party. U.S. S.

Mr. Parkin

Mr.......

Minister of State

Secretary of State

DRAFT.

Your Reference.....

I. P. BANCROFT, ESQ.,

TREASURY

FURTHER ACTION.

and Eräning

(17)

•

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 arrangements now proposed differ in one or two respects

from those mentioned in our telegram

No. 611.

a

First, you will recall that

at the meeting at the Treasury of 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;

Specific

thirdly, the requirement of approval of

K

new posts as provided pre-war in Colonial

(262) ≫

Regulation) has been left out because

one

Colonial Regulations are in force and to

in t

Gray single out/of them for mention/appeare to

be unneeassery and was only conveys the

inference that others may be ignored;

and,