CO129-623-8 Estimates of Expenditure- includes a report for the year ending March 1951 1-12-1949 - 31-3-1951 — Page 265

COPY.

L.M. 551/49.

Sir,

381

Colonial Secretariat,

Hong Kong.

12th December, 1949.

I am directed to invite your attention to the

following passage which appears in the middle column of

page 740 of the issue of the "Far Eastern Economic Review"

dated the 8th December

2.

"And even professional arbitrageurs

have succeeded many times by means of plausible

subterfuges to obtain approval for their

applications."

This, in the context in which it occurs, is a serious reflection upon the work of the Exchange Control,

and I am to request you to substantiate this statement

or to withdraw it unreservedly, in which event a suitably worded apology, of which a suggested draft is enclosed, should be inserted in your next issue in an endeavour to minimise the serious effects of your Editor's ill-

considered action.

I am, Sir,

The Chairman,

Board of Directors,

"Far Eastern Economic Review",

322 Queens Building,

HONG KONG.

"Say

Your obedient servant,

(Sga.) C.G.s. Follows.

Financial Secretary.