Ing on 15453/1/139
Scon
SA 44
9th November, 1939.
We have been considering the question of the
Colonial loan programme which was in contemplation before the
outbreak of war, and the steps which can now be taken to meet
immediate requirements. I will not trouble you at this stage
with details of the various schemes, but the total amount of
money which it had been hoped to raise was of the order of £6
or £7 million.
At a meeting here at the end of September at
which the Crown Agents for the Colonies were represented, it
was arranged that the schedule showing the various requirements
of Colonial Governments should be revised, and that the
requirements should be placed in certain categories with a
view to determining some degree of priority. It was proposed
that the lists should show:-
(a) schemes which can be regarded as affecting the
progress of the war,
(b) Schemes on which work has already begun, advances made in anticipation of raising a loan, contracts placed, etc.,
and where discontinuance would result in the benefit of work
already done being lost.
(c) Schemes requisite for sound administration, e.g.
to ensure public tranquillity.
(a) Schemes involving the idea of "trusteeship".
Unfortunately, it has not so far been possible to obtain
sufficient information from the Colonies concerned to enable
such a schedule to be completed, and correspondence with some
of the Governments is still proceeding.
We assume that it will not be considered desirable f
loan in the ordinary way
any Colonial Government to raise
while the war continues. As you already know, however,
Mr. MacDonald attaches the greatest importance to the
SIR ALAN BARLOW, K.B.E.,C.B.
maintenance