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intensive canvassing by American Companies for the
control of this business and the Government on
consideration of the question reached the conclusion
that "the nature and purpose of the Fund fully
justified the decision to confine insurance to
British Companies".
This decision was not enforced
retrospectively, and it is to be noted that the
principle adopted is in keeping with that laid down
in the last paragraph of your letter No.52835/23 of
12th April, 1928, addressed to the Secretary of the
Board of Trade.
I have the honour to be,
Sir,
Your most obedient, humble servant,
W. I. Southoch.
Officer Administering the Government.