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may be too much rooted in the past, end may achively promote disruption. We are definitely apprehensive that your policy might wreck customs machinery by overloading it and our hope was that oure might save it by lightening its responsibilities.
5. In view of the impracticability at the present time of a constructive policy the moet we can do 16 to guard against certain obvious dutgers. There- fore our immediato object mot Sa (1) te remedy the Canton situation and prevent repetition elsewhere, (2) to save customs collecting machinery and (3) to safe.
guard the foreign secured debtor. Other things are
subsidiary. It is true that you adduce weighty reasons
against our proposals. But we are not yet convinced
that your arguments are final. The dangers ahead of
us are very real, and we comot afford to leave any
possible avenue unexplored. If, therefore, you still
maintain your objectious against our scheme we are
bound to look to you for some elternative. We frankly
do not like that which you have put up.
6. You are doubtless fully conscious of another possibility, nemely that United States goverment will soon realise, if they have not already done so, that Conference is at present needing For complete forein Echtrol over new revenues, a thing hitherto totally opposed to their principles. We may well find our--- selves faced with an American initiative forcing us ultimately to follow instead of leading in some such policy as we are now discussing with you.
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