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Coll 15/5 'EGYPT British community in Egypt: problems of post-war reconstruction' [‎30r] (59/68)

The record is made up of 1 file (32 folios). It was created in 13 Jun 1944-23 Apr 1945. It was written in English. The original is part of the British Library: India Office The department of the British Government to which the Government of India reported between 1858 and 1947. The successor to the Court of Directors. Records and Private Papers Documents collected in a private capacity. .

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3o j
(a) To prohibit tho export from Egypt of foreign
(particularly British) capital which is surplus
to Egypt's roal requirements;
(b) To adopt positive inflationary measures in Egypt,
o.g* by gixing excessive prices for local
products, or
(c) To impose excessive taxation on exports;
(d) To invest the cover of her currency note issue
in local or other foreign securities, instead
of as at present in British Treasury Bonds,
If anything of this sort wore to be proposed not it could bo
objected to on tho grounds that it would impede tho war
effort and so be contrary to the provisions of the Treaty*
After tho war it could only bo opposed, if insisted on
contrary to Egyt ; ] s true interests, by tho throat or even
tho application of retaliatory financial or commercial
measures by H,M. G-* Retaliation at present could not, however,
be applied since it would necessarily result in a still further
interference with tho war effort* It is true that a dofiniue
assurance has recently been obtained, in a public pronounce
ment by the Minister of Finance that it is not his intention
,o prevent the transfer of capital from Egypt at tho present
time, but it is recommended that the situation in this respect
should be most carefully watched in tho future,
57, It is considered that tho whole question of the
movement of capital into and out of Egypt, both now and after
tho war, is of groat importance to British traders* and that
having regard to tho enormous credit balances of Egypt in
international exchange caused by war spending, tho further
importation of foreign capital should in general t* 0
discouraged* It should if possible only bo allowed when it is
required for tho purpose of economic development inside Egypt,
which would incroaso the consumption of imported commodities
and thereby act directly against inflation* Even so it should
only bo introduced in cases where no sufficient local capital
is available* Further it is considered that thebe should be no
restriction on tho export from Egypt of funds representing the
viold and tho orderly repatriation of British capital invested
^.n Egypt* Apart from other considerations, such a movement ox
funds would also tend to decrease tho risk of inflation. But on
tho other hand it is recognised that such movements could
properly bo checked if they wore made for political reasons, or
in order to avoid legitimate taxation, or if they wqro on
such a largo scale as to endanger tho interior economy of
Egypt, The British commercial community in-Egypt would
inevitably suffer if tho delicate fabric of, Egypt s finances
wore to bo destroyed*
37* It is considered as particularly important if Egypt
is to place her post-war finances on a stable basis, and so
jrovido a safe field for British trade and enterprise, that
she should join tho International Clearing.,Unio^ which it is
understood is now being formed* Unless sho does' so li '
hardly/

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Content

The file is mainly comprised of a letter (ff 8-13) from HM High Commissioner for Egypt and Sudan (Miles Wedderburn Lampson, the Lord Killearn) to the Secretary of State for Foreign Affairs (Sir Anthony Eden), accompanying a report (ff 14-33) on issues facing the British community in Egypt during the phase of post-war reconstruction.

The report is divided into two sections:

  • Section A. Reestablishment of local servicemen and servicewomen
  • Section B. General position of the British community after the war

A further letter from HM High Commissioner for Egypt and Sudan to the Secretary of State for Foreign Affairs accompanies a memorandum by the Legal Counsellor for submission to the Middle East Demobilisation Advisory Committee.

The file includes a divider which gives a list of correspondence references contained in the file by year. This is placed at the back of the correspondence.

Extent and format
1 file (32 folios)
Arrangement

The papers are arranged in rough chronological order from the rear to the front of the file

Physical characteristics

Foliation: the foliation sequence for this description commences at the front cover with 1, and terminates at the inside back cover with 34; these numbers are written in pencil, are circled, and are located in the top right corner of the recto The front of a sheet of paper or leaf, often abbreviated to 'r'. side of each folio.

Written in
English in Latin script
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Coll 15/5 'EGYPT British community in Egypt: problems of post-war reconstruction' [‎30r] (59/68), British Library: India Office Records and Private Papers, IOR/L/PS/12/2768, in Qatar Digital Library <https://www.qdl.qa/archive/81055/vdc_100043034307.0x00003c> [accessed 28 March 2024]

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