CO129-625-6 Hong Kong University- endowment fund 1-5-1951 - 30-9-1951 — Page 66

OUTWARD TELEGRAM

FROM THE SECRETARY OF STATE FOR THE COLONIES

18B.

66

19261/63

Cypher (0.T.P.)

TO HONG KONG (Sir A. Grantham)

Sent 26th July, 1951. 11.15 hrs.

IMMEDIATE

No. 891. Secret.

Addressed to Governor Hong Kong,

Repeated to Commissioner General, South East Asia,

No.340.

My telegram 7th July, 1951.

Japanese Peace Treaty.

H.M.G. has now decided to adopt method of disposal of Japanese assets in the U.K. in above telegram. It is appreciated that public announcement to above effect may well give rise to demand for information as to Government's proposals for disposal of Japanese assets in the terri- tories which were over-run by Japanese, In this connection as has been pointed out, since it was not only prisoners or internees who suffered at the hands of the Japanese in these territories it would be more equitable to devote proceeds of these assets to some object or objects for the common benefit of the population of each of the territories concerned.

2. H.M.G. is very conscious of devastation arising out of the war and of personal suffering caused by Japanese in Far Eastern territories and has decided that Japanese assets in each of those territories shall, subject to proposal referred to in paragraph 4 below, be made available for the benefit of the population of that territory. Bearing in mind that Japanese assets in those territories may amount to as much as £258 million as compared with just over £1 million in the U.K. I hope you will agree that H.M.G.'s decision is very satisfactory.

3. Written reply by Foreign Secretary to Parliamentary Question on Wednesday 25th July included following. Begins.

By draft Treaty, H.M.G. will be empowered to seize Japanese assets in Colonial, Trust and Protected Territories. I think House will agree with me that it is only right that these assets, the bulk of which are of course in the territories overrun by the Japanese, should be entirely at the disposal of the Secretary of State for the Colonies for the benefit of, and in consultation with the territories with which he is concerned.

Ends.

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