CO129-555-6 Banking crisis 24-9-1935 - 18-10-1935 — Page 81

Fr.Mr.Ezechiel 28.1.35.

Fr.do. 29.1.35.

81

END

that it must be left to the Palestine Government to find

out by experiment what is practicable in the peculiar

circumstances of the case.

We have ascertained that, on the receipt of the

Committee's interin recommendation quoted in the fifth

paragraph of the report, the High Commissioner agreed with

the view of Dr. Smoira that the temporary ban on

incorporation should apply only to companies with paid-up

capital of less than £10,000, and the Registrar of

Companies was instructed accordingly on the 2nd of February

1934. It is encouraging to learn that general feeling

in the country was favourable to this restriction and that

there have been no protests.

No expenditure is involved in the proposals, and

reference to the Treasury is not obligatory.

We are,

however, referring the report to you semi-officially in

order to have the benefit of expert comment. Before

replying to the High Commissioner, we shall be glad to

learn whether the Treasury have any comments or suggestions

which might be put to him for his consideration.

I enclose, for your information, copies of two

letters from Ezechiel commenting on certain aspects of the

report. We propose to ask the High Commissioner to

consider Ezechiel's suggestions.

Yours sincerely,

(signed) 0.G.R.Williams.