CO129-524-11 Colonial Development Fund- application for assistance 15-3-1930 - 28-8-1930 — Page 16

%

schemes which will carry their own justification in their

value - immediately or prospectively - to the economic

development, in its widest sense, of the Colonial Empire.

In the first place, Lord Passfield wishes me

to make it clear that the attitude of the Advisory

Committee towards applications is not governed by a

narrow view of the unemployment problem here. The

Committee is ready to entertain applications which

involve little actual purchase of material in this country,

or even none, if the object to which it is proposed to

devote the money 18 one which may be expected to promote

the development of the Colony, and thus indirectly to add

to its wealth and consequent purchasing power, to tne

general benefit of the trade of the Empire.

Secondly, while it is well known that, in regard

to large works, the Committee is prepared to assist by

recommending the payment of interest on loans up to ten

years, the Colonial Governments have doubtless in many

cases quite properly felt bound to limit their applica-

tions, because they did not see their way to provide for

the

16