CO129-623-8 Estimates of Expenditure- includes a report for the year ending March 1951 1-12-1949 - 31-3-1951 — Page 55

expenditure figures for the first quarter of the year contained in your savingram No. 853 of 10th August, it seems

in fact a surplers th

surplus of on the year's

working is likely again

Chat

55

to result provided

adverse

that the Korean conflict and other factors do not have an unduly distinting effect for this

appears possible

the Rehabilitation:

o for

the whole 1750 million

that, even fin

If Clas

Loon

20

وت

expenditure which has been met temporanly

revenue balance

for the general

were charged against this balance,

un commi'ited

obs

the portion of the balance

would remain

at, or even increase

slightly beyond, the figure for 31st March

Castriated.

1950 of about $90,

about $90 million. This is

roughly equivalent to the six months' revenue which I indicated in my. (5)

telegram No. $26

(which seems to be

as the minim

reserve desirable. I note

note from you

savingrain No. 853 that I

a despatch shortly

may expect

on the question of

charging loan expenditure aganist general reverme balances.

(19)

3. In view of your estimated necessary development expenditure by weregsary for stingthong to be

$400 million I appreciate the marce rode of your be

great part of that sum in the formy of a town;

and I with

h

able to raise

address a

as possible

shortly I on

a

junitie

times.

will

probably

Communication to you

ques

torio

As

hor of a conton loan.

SECER.

Room