33
decision to restrict the increase to $5,000,000 against
full silver cover would be reversed.
his
He is to consult Board whether the Bank
should make a fresh application for a 10,000,000
increase, but I hope that I have succeeded in persuading
him that he would be better advised to accept what has been
offered.
As regards the general re-organisation, I told
him that the report would probably be published in five or
six weeks time, and that he would have time to make any
representations which he needed to make after the report
had been published before any legislative action was taken.
I send you this note to put the matter on record.
Yours sincerely,
4 Lewley
h