CO129-605-4 Government loans 12-7-1946 - 6-1-1948 — Page 225

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I think it was said at the meeting that an assured prospect a floating a loan immediately was not a necessary prerequisite to the issue of a loan ordinance. In the present circumstances I am afraid that the Treasury are bound to insist that all other possible sources of finance are explored before the Exchequer is called upon and we hope that despite the report from the London market you will find it possible to finance the reconstruction expenditure in the manner suggested.

Yours sincerely,

pundame