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Auction: 15037 - Autographs, Historical Documents, Ephemera and Postal History
Lot: 56

Documents
Rio Tinto's Spanish Loan
1918 three letter to from the Treasury to J.F. Darling, General Manager of the London Joint Stock Bank thanking him for help in the negotiations.



The first dated 18th October is a typewritten letter signed "A. Bonar Law" (later Prime Minister), "We have now heard that the Spanish Government have at last granted permission for the issue of the Rio Tinto Company's loan in Spain. It has been a long and tiresome business ...The negotiations could not have been carried through without your help."



The second dates 17th December is a typewritten letter signed "J M Keynes", "I have spoke to Sir John Bradbury since you were here, on the question of whether the time has not now come for exercising our option over a further 50,000,000 pesetas Tinto loan... We are not in any very urgent need for the proceeds of the loan and the exact date can therefore be left to suit your convenience".



The final letter dated 20th December is an autograph letter signed "J M Keynes", "I am very glad the the King (or whoever acts for him) has heard the ... of the Treasury. But I am sure your real reward for the great trouble you took for us is that you were of assistance to the country at a moment when our financial affairs were not of the highest". An important group each with their original envelope. (3). Photo

Andrew Bonar Law (1858-1923) was a British Conservative Party statesman and Prime Minister. Born in the colony of New Brunswick he is the only British Prime Minister to have been born outside the British Isles

John Maynard Keynes, 1st Baron Keynes (1883-1946), was a British economist whose ideas fundamentally affected the theory and practice of modern macroeconomics and the economic policies of governments. He built on and greatly refined earlier work on the causes of business cycles, and is widely considered to be one of the most influential economists of the 20th century. His ideas are the basis for the school of thought known as Keynesian economics and its various offshoots

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