CO129-370 - Governor Sir Lugard & Public Offices - 1910 [12] — Page 377

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be provided with some power to enable us to borrow outside,

if occasion should arise, such sums as may be required. This

power should, we think, take the form of an Ordinance authoris-

ing us to raise, for a limised period, by the issue of de-

bentures, a sum of, say, £500,000. We should not necessarily

issue the debentures; but such legislation would provide us

with a security which we could, if necessary, deposit with a

Bank to enable us to obtain advances, and the debentures would

only be issued in the very improbable event of our being

unuhle to obtain money otherwise.

5. If the Secretary of State approves of our suggestion,

we should be prepared to submit a form of Ordinance which

would suit the circumstances of the case.

I have the honour to be,

Sir,

Your obedient servant,

Rd. Antrobas.