161
compromise would be to adopt a suggestion
made by Powell at a general discussion
on loan policy in Rowe Dutton's room on
29th November namely that the Government
should set aside each year the same sum
as would be required for a 1 per cent.
sinking fund but should use the money
not to put into a sinking fund but to make
purchases of the loan in the market if this
is necessary to support it. If you see
no objection we would propose to suggest that
to the Governor as an alternative possibility.
early
We should be grateful for/Treasury
views on the above points.
Yours sincerely,
H. PAL
No comments yet.
Private notes are available after approval.