REPLACEMENT OF ALLIED TONNAGE BY BUILDING IN THE UNITED KINGDOM.: Memorandum by the Minister of War Transport.

###ossible for us to make a further allocation to the Allies ###rom our wartime built tonnage and their acceptance of such ###essels will leave a higher percentage of our shipbuilding ###apacity available in the immediate future to our own ###hipowners to enable them to push on with building vessels ###ore suited for postwar purposes. ###llocation of building facilities 4. As regards building directly on their own account it ###ould be a distinct advantage that the large sterling ###alances of the Allies, largely acquired from Insurance payments for lost tonnage, should be expended in our yards.