1
T
:
:
17. WHY NOT ASSURE FUTURE FINANCING BY GIVING GUARANTEES IN RESELI, OF NEW ACCRUALS?
THERE IS NO NEED TO BASE FUTURE ACCRUALS OF STERLING ON AN
ARTIFICIAL PROP OF THIS KIND, WHICH WOULD INTRODUCE QUITE
UNWARRANTABLE DISTORTION IN THE PROCESS OF CHANNELLING THE SURPLUS REVENUES OF OIL PRODUCERS.
18. DOES THE ABANDONMENT OF GUARANTEES MEAN THAT WE SHALL HAVE TO OFFER HIGHER RATES OF INTEREST (OR BE MORE RELUCTANT TO LET RATES! FALL) TO RETAIN MONEY HERE?
NO, NEITHER NECESSARILY FOLLOWS.
CALLAGHAN
ORWELL DISTRIBUTION
FRD
NEWS D
GIPD
1
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COPIES TO:
SIR D MITCHELL
MR BARRATT
TREASUNT
MRS HEDLEY-MILLER
MR WALKER
MR PAYTON
BANK OF ENGLAND
MR BARBER