Thank you all for these informations.
It will be better to ream the tubes just after welding and before inserting the bushes. Standard bushes could be used and replaced without needing an additional reaming.
This method is used by a Canadian Morgan Owner. A machine shop hones/reams the stub axle for a loose fit. Loctite Bushing Retainer is used to hold the bushing. No reaming/honing of the bush. Heat is used to release the bushing when they are to be replaced. Not sure of the details of this.
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Seattle