CO129-611-3 Weekly summaries of press reports and comments 24-12-1946 - 27-9-1947 — Page 31

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PRO/1032/3.

which bidding at Crown Land auctions could be restricted) and for modifica- tions in local building regulations.

3. WORLD AFFAIRS.

There had been rumours that July 15 would see a devaluation in sterling, but the Wah Kiu Yat Po quoted local banking circles as being of the opinion that the soundness of Britain's financial policy and the fact that devaluation would mean a rise in commodity prices in Britain precluded any devaluation.

The theme of the danger of a Japanese revival was again taken up by the Sing Tao Jih Pao and by the pro-Communist Hwa Shiang Pao.

JHBL/APC

J.H.B. Lee,

P.R.O.