34
prepared to agree witn your view that
the question of borrowing may be
aeferred for the present.
3.
At the same time, even on the
improved figures for the surplus of
assels in the Treasury shown in your
uespatch under reference, it does not
appear that there is any considerable
margin for contingencies, and you will
no doubt keep the position
under review.
I nave, etc.
(Signed) W. ORMEDY GORE.