CO537-(1262-1649) — Page 324

1

}

00 109

the Japanese currency instead of

depositing it with a bank and a man

who deposited it for safe keeping with

a bank. This proposal should of itself

improve the position of banks other than

•OF THOSE these zhich were liquidated and which no, repeat no, deposits were placed during

the Japanese occupation.

in

3. The modification would not however

affect the objections to my original

After proposals, made in C.A.3366. discussion of these with Macdougall

I am afraid I still feel that it would

be difficult to accept the revisions

proposed in your telegrams referred to

above.

presumably.

4. So far as the difficulty of constructing

a sliding scale is concerned, I appreciate

that any scale would have to be arbitrary.

I do not however t.ink that this is itself

a fundamental objection to the scheme.

Provided it is agreed that it is inequitable

to place the whole of the loss on either the

debtor or creditor in the case of repayments

of capital sums not due some scale is better

than no scale at all. I should not see objection

to having one scale, to apply to repayments of

capital Bume and another applying to outstanding

occupation debts,

As regards your proposal

SAB

Lquidator

that all payments to the liquidator would be invalid since the latter cannot be regarded as authorised agents of the liquidated bank the latter point was of course fully appreciated

when I made my orginal proposals.

The case for

partly validating repayments of overdrafts or

paymonto-desmed capital sums ests however on

رعية الشاقة

the need to preserve some kind of equity

[NP

/between

108

1

2

Ref.:

CO 537/1374

THE NATIONAL ARCHIVES

Ins

N

restrictions. Further information is given in the enclosed Terms and Conditions of supply of National Archives' leaflet.

Please note that this copy is supplied subject to the National Archives' terms and conditions and that your use of it may be subject to copyright