CO129-576-4 Loans for public works 3-7-1939 - 4-1-1940 — Page 44

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Scon

SA 44

9th November, 1939.

We have been considering the question of the

Colonial loan programme which was in contemplation before the

outbreak of war, and the steps which can now be taken to meet

immediate requirements. I will not trouble you at this stage

with details of the various schemes, but the total amount of

money which it had been hoped to raise was of the order of £6

or £7 million.

At a meeting here at the end of September at

which the Crown Agents for the Colonies were represented, it

was arranged that the schedule showing the various requirements

of Colonial Governments should be revised, and that the

requirements should be placed in certain categories with a

view to determining some degree of priority. It was proposed

that the lists should show:-

(a) schemes which can be regarded as affecting the

progress of the war,

(b) Schemes on which work has already begun, advances made in anticipation of raising a loan, contracts placed, etc.,

and where discontinuance would result in the benefit of work

already done being lost.

(c) Schemes requisite for sound administration, e.g.

to ensure public tranquillity.

(a) Schemes involving the idea of "trusteeship".

Unfortunately, it has not so far been possible to obtain

sufficient information from the Colonies concerned to enable

such a schedule to be completed, and correspondence with some

of the Governments is still proceeding.

We assume that it will not be considered desirable f

loan in the ordinary way

any Colonial Government to raise

while the war continues. As you already know, however,

Mr. MacDonald attaches the greatest importance to the

SIR ALAN BARLOW, K.B.E.,C.B.

maintenance