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Hypothetical idea

In view of the problems graduates seem to experience in essay writing I suggest you might publicise the meaning of the new buzz word 'hypothecation' used by John Prescott in his speech on the Transport White Paper. I note you managed to use it in the ICE news item on page 53 of the 23/30 July issue.

Dictionaries do not offer much help. Collins gives 'hypothecate : vb (tr) Law : to pledge (personal property or a ship) as security for a debt without transferring possession or title'.

There is some marine connection which may explain the word's attraction for Mr Prescott. On the other hand it seems an appropriate description for a government undertaking.

GA Milne, (F), Killaird, 25 Stirling Drive, Bearsden, Glasgow G61 4NU.

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