5

10 Gr 164

1

17.3

Is not prepared to accept withsout

Considerable qualification the views

(1), but has decided

expressed

to adopt.

2

based upon.

a

O? the dollad.

?

scale

sliding The sterling

value

Table of the Merchant Slupping

P

Ordce 1899

are

of

subsequent amendments in volumes henwort

flagged Since this desp

was

written there

has been a furkur rise in the AK dolley which now stands around 1/4 to 1/5. The concession made to the stupping Interest is now therefore groentex of mome value than at the time it was granted

the time

Before waiting to the Crima

Association a to Hers John Sevire Boush of

tor I think we had better see whelier

fue

вете

with

have any

obsons

? Send copy of (10) & enclos (8) to B/T short left

copy of (8)

for obsons ref (7) explaining

at Al above.

Al

8/5/33

The rate has been reduced from 4 cents to Its cents per tow, but it is difficult to follow has for that reduction is

affected by the conflicated exchange

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