1. At their meeting on the 29th December, 1944, the Committee had invited the Minister of War Transport to consult with the Chancellor of the Exchequer in regard to a suggestion that the arrangements to be made for the purchase by the Allies of ships built in this country should provide for part only of the purchase price to be met out of their sterling balances and for the remainder to be paid in gold or foreign currency; and to submit a report on this point to the Committee as soon as possible.