CO129-546-1 Loans for public works 6-1-1934 - 14-8-1934 — Page 80

83

of the sterling loan. The latter

is 3 per cent stock ani neen not

I am adorsed that

be redeemed before 1943. It would

Loerefore be difficult to justify

borrowing at 4 per cent in order to

That

reieem it earlier, Even if there were

e exceptional circumstances whier o

at justify such a course, the

reasons could not easily be explained

in such a way as to avoid public

criticism in the Colony.

I have, etc.

(Signed) PLYMOUTH.

(for the Secretary of State)

Page 80Page 81