American embargo and the further complication of the postponement of constitutional reforms, we should not press for the imposition of additional taxation at present, but that the Governor's attention should be drawn to the correspondence about the defence contribution and access to the London market for loans to finance development mentioned in the Tai Lam Chung reservoir despatch (7) on 54307/50.
Ban
copy at
The telegram at (1) mentions two other points.
(a) at paragraph 7. The establishment of a Development
and an Essential Commodities Equalization fund. This is being considered on 54466/1/51 and has been concurred in by Supplies and Finance Departments and the D.G.C.A. and I think we may approve the proposal. I have included a reference to this in paragraph 4 of the draft telegram.
13
(b) at paragraph 8. A reply about consolidating a portion
of the present cost of living allowance has gone vide (4). The file 53832/1/51 is in circulation for preparation of the letter referred to in paragraph 1 (a) of (4).
? Reply to (1) as in draft.
Hi all.
2. 3. 1951.
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7 Do Hong Kary-tel 3136afina - 2/4/17
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Dicap 47
Dush 48 w/estimates
17
16 5 S1
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SI
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