Memorandum from Frederick Leith-Ross [Deputy Controller of Finance] to Sir Richard Hopkins [Controller of Finance and Supply Services] and Donald Fergusson [Private Secretary to the Chancellor of the Exchequer] on government expenditure, countering criticism by [David] Lloyd George by explaining government development and expenditure on housing, roads, telephones etc, and guarantees under the Trade Facilities Act and Colonial Development schemes equating to over £300 million expenditure, concluding that the government has "pursued these programmes to the fullest extent that was economically justified".Typescript signed with initials. Annotated by WSC in red ink "How are these proud boasts to be reconciled with the purity of our principles? According to the Ty [Treasury] memo, all this has been brutally withdrawn from industry & enterprise.")