CO129-539-12 Loans for public works- military finances 26-2-1932 - 7-3-1933 — Page 80

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quite clear that it will not be

possible to claim exemption for

the interest and sinking fund

on the proposed loan of $25,000,000.

6.

I enclose a copy of

a letter of the 30th of May from

the Crown Agents in which the

Treasurer's proposals are considered

in detail.

Subject to any modifi-

cations which you may think

desirable, in view of the comments

of the Crown Agents and of the

observations in the previous paragraphs

of this despatch, I approve generally

the loan proposals submitted in Se William Peat's

your Confidential despatch of the

10th of March.

I have, et c.

D GUNUCCELLISTER.

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