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

barid on

trav

31

the y50/s; estimates a $12 million

quoted

in foli (24 i.l. already

up on $77 million for the fist I monthro

The year, although the actual lash surplus is of course

ބ

svated.

4. Tobal Pahalisivation Loan expenditure now amounts to $,21 million. The setting of of 750 million

million of this

حة

expenditure, which has so far been met from sumping balances, against revenne

will therefore still leave $2 million spent from these balances which has

not been set

is of

Come

· revenne.

It aganior

bossible that

if the

ك

final 1950/51 simplers proves lage enangin H.K. will set this remaining money off in the 1950/51. accounts.

'Should I think

suggest

that

no

If not

not we

they do so

in 1951/52; there

doing

30

now there

naising any

more

ठे

5. The American embargo

Br Story Kory is

point in

on

no

hope of

nor

the loan.

rand materials

an extremely sensis

matter for the Colonya if the U. S. Gook

refuse to relax it, it

adverse effects

on

may

have far-reaching

the Colony's economie

life of prosperity; only indirect reference is made to it however in para 7 of (24) and

one

the

ganis

impression

that H.K. do

not expect quite such senais consequences

from the embargo,

as

may have been

led & believe. At all evento pore 7 of

(24)

Maes

the "political climate resulting

in Korea" generally the American embargo

four developments

rather wan

•

/specifically