CO129-605-4 Government loans 12-7-1946 - 6-1-1948 — Page 109

In the last paragraph of the Governor's telegram the word

"amount" presumably refers to the total amount authorized by the ordinance. Advances can only be made. from the Joint Colonial Fund on the security of the unused borrowing powers provided by the ordinance, so that unless these borrowing powers were extended as suggested in, the telegram, it would not be possible to finance the additional expenditure by means of advances from the Joint Colonial Fund. To what extent the position of the Fund in 1948/49 will allow advances to be made it is too early for us to say at present.

I am sending a copy of this

letter to Serpell.

Yours sincerely,

A. From Kick,