CO129-520-7 Public Utility companies- acquisition by foreign groups 4-12-1929 - 26-1-1930 — Page 28

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Sie S. Wilson

Mr.Clauson's draft approaches the

matter from the point of view of trade, and

he therefore rightly brings in such considerations

But I think

as the locking up of cil-fields.

it should rather be tackled from the public

safety point of view. After all in the Hong-Kong

case which gave rise to the whole discussion

it was the political aspect that was uppermost

in our minās.

Again I suggest that management is far

more important than control. It has never seemed

justifiable to insist on full British control and

so exclude a majority of foreign capital except

national in the case of supplies essential to the/safety.

and now that we are to give up that policy in the

vital matter of oil, it seems incongruous

to introduce it into gas and water. It is

only where there is an American octopus waiting

to grab our services that there would be any

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need to do. I have in mind the American effort

to swallow electric concerns in the East for the

benefit of the American, and to the detriment

of the British Electric industry.

I submit an alternative draft from the

public safety point of view.

12.1130

Dis J. Campbell

hay These your views?

have very fact that for Clauson approached the matter from the

The