CO129-623-8 Estimates of Expenditure- includes a report for the year ending March 1951 1-12-1949 - 31-3-1951 — Page 26

23 for

!

Palmer

Im Stall

report

Sow 1274 Cont

1. (23) is H.K.'s usual quartering

ther Inancial situation and

contanis information

the and

G

the sition up

26

of the his half of the financial

year.

There

are

number of interesting

items in the report quite apart from

the

1/12/00

5

actual statement of financial positions which

much what ive expected.

is I think

2.

There is

an estimated surplus

about $40 million, even after the contus utions

to St. M. Go for the coor

of reinforcements has been

taken into account, for the first half year.

Ar proportionate rates

02

surplus expenditure is

this

would mean

the year of $80 million;

however usually

half of the year

the second half

Ache

elsewhere suggested $60 millions

surplus. Such estimates

hearien during

and

it.K. has

likely

༢.

clearly dependent

on the assumption that the Colony's economy

will not be seriously interfered write

result

and on

current events in the Fam East this assumption, and bearing in

mind that the departmental economy

drive

effect,

wxx

informed

in (19)

opposite can not yet

be having its full I should still not be supused a surplus of $70 million or more, even after the contrisation to stir. A has been paid in full, at the end

the financial

See

ді

year.

my However

as the Grovemar points out in para. 5 & (23) opposite this smpho will largely be

Swallowed up

$50 million (or possibly incore!