535R. F. W. Pethick-Lawrence to Harrod,
2 March 1936
asks Harrod's opinion regarding the Government's intention to propose
a borrowing for rearmament.
 The exchange continues at
- 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.
- a. From
11 Old Square, Lincoln's Inn, W.C.2 # , TLS, one
page, in HPBL Add. 71191/187.
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