U.S. Finances     207/      Wi /39
5
BRITISH KMBA33T,
WASHINGTON Ov C.»
Mareti 83rd, 1939
So. 334
- 3
My Lord,
With reference te paragraph T (c) of the
Financial Adviser'a report enclosed with my despatch
No. 199B of the 16th ultimo, X hare the honour to
enclose herewith copies of a letter from the President
to the Congress to the effect that it will not he
necessary te increase the existing legal limit on the
total amount of the public debt during the present
session of Congress, hut recommending the abolition of
the legal limit on the amount of the debt taking the
form of Treasury bonds (as opposed to shorter dated
obligations).   There is not likely to be any serious
opposition to this recommendation.   Unless there is a
complete reversal of the Administration* e budgetary
policy, the limit on the total amount of the debt will
no doubt be Increased next year.
£• Gopies of this despatch and of the enclosure
are being sent direct te lis Majesty's Treasury and to
|K . the Department -of Overseas Trade.
X have the honour to be,
with the highest respect,
My Lord,
Tour Lordship*8 most obedient,
humble servant,
(300)   ft, 0. LIHPSAT
The Right Honourable
The viscount Halifax, K.O.,
etc., ete., etc.
PRHM:TKB:DH