529
the proceeds of remittances from the Crown Agents for the proceeds of the Loans - foregoing interest on Balance Exchequer were applied towards discharging liabilities.
I apprehend that owing to the sensitiveness of now fixing the datum rate of Compensation to exchange sterling drafts drawn on London at a fixed rate, say 3/4d. or thereabouts, the results will, doubtless, prove better than anticipated. Although in many Undertakings, Capital outlay has not yet begun, phasing appreciable benefit from the war, there is a tendency to defer expenditure at home, and theirs setting off the current Balance of receipts for Capital Expenditure.
6.5.95
M. Janfield
See my marginal minutes above. May I discuss this further with you on your return to Office? Meanwhile the rest of the questions raised may be disposed of apart from this gut.
7/3
in pursuance to the Hally Porti.
As the matter of accounting to the outlay and receipts in Connection with the Taipingshan Resumption can stand over till I return, I have
8.3.95
Nuts
257