535R. F. W. Pethick-Lawrence to Harrod, 2 March 1936 [a]

Pethick-Lawrence asks Harrod's opinion regarding the Government's intention to propose a borrowing for rearmament. [1] The exchange continues at 538 R.

  1. 1. The government's proposed policy was explained in a "Statement Relating to Defence" presented to Parliament by the Prime Minister on 3 March 1935 (Cmd. 5107). It is not clear why Pethick-Lawrence (Labour MP for the East Edinburgh division) supposed that the government intended to finance the defence expenditure by loan. The White Paper (and later the Chancellor himself, A. N. Chamberlain, during the discussion taking place in the House of Common on 5 March: see note 1 to letter 538 R) deferred reply to the problem of finance to the budget statement to be delivered in April.
    1. a. From 11 Old Square, Lincoln's Inn, W.C.2 # , TLS, one page, in HPBL Add. 71191/187.

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