§ 3. Mr. JOYNSON-HICKSasked whether, in case the Chinese National Parliament fails in April to ratify the sextuple or quintuple loan, British financiers will resume their freedom of negotiation with the Chinese Government?
§ Mr. ACLANDI must refer the hon. Member to the last part of the reply which was given on the 27th instant to the hon. Member for the Attercliffe Division of Sheffield. I can add nothing at present to that statement.
§ 4. Mr. JOYNSON-HICKSasked what is the exact nature of the hitch in the conclusion of the sextuple loan to China, and whether it is connected with financial or political considerations?
§ Mr. ACLANDThe position is that the Chinese Government have still before them the proposals of the six Powers for a reorganisation loan, and I understand that they are anxious to consult the Chinese National Assembly, which meets next week, before coming to a decision.
§ 5. Mr. JOYNSON-HICKSasked whether, in the case of a loan being made, with the approval of the Foreign Office, by people in this country to China, and the Government of China subsequently repudiating or disregarding their responsibilities and obligations in respect of such loan, he would be prepared to advise His Majesty's Government to intervene and to take the necessary steps to force China to respect her obligations?
§ Mr. ACLANDIt would be premature to anticipate default on a loan which has not yet been concluded, and I cannot undertake to formulate a policy for hypothetical eventualities.
§ 7. Colonel YATEasked what is the precise nature of the conditions approved of by the Powers to which China has objected, thus giving rise to the present deadlock?
§ Mr. ACLANDThe conditions which the Chinese Government feel unable to accept without, as I understand, previous consultation with the National Assembly are those which concern the appointment of foreign advisers, and on this point the difference of opinion has been not whether threre should be any foreign advisers, but whether the particular scheme approved by the five Powers and originally by the United States Government also should be accepted in preference to another scheme of the Chinese Government.
§ 8. Sir J. D. REESasked whether any of the opportunities during the Session for discussing foreign affairs will be reached before the conclusion of the proposed Chinese loan; and, if not, will he, by 8 giving special facilities, avoid placing the House in the position of discussing an already agreed policy when there is no chance of its revision?
§ Mr. ACLANDThe Chinese loan will not be concluded till the Chinese Government have come to a definite decision. I cannot say when this will be. There has already been one, if not more, opportunities this Session when the question might have been raised and there will be others. As the loan will not in any case entail any pecuniary liability I do not see that there is any occasion to interrupt the work of the Session in order to discuss it. The loan itself does not depend upon the consent of the House nor does it depend necessarily upon His Majesty's Government. The general policy of the Government towards Chinese loans can be reviewed by the House and controlled like every other policy of the Government, but it has been known and stated for months past.
§ 9. Sir J. D. REESasked whether the right hon. Gentleman's attention has been called to the fact that Messrs. Morgan, on behalf of the American group, have issued a statement that that group has definitely withdrawn from the loan negotiations; whether, in view of the Foreign Office statement that this is not possible until a specific period has elapsed, he will inform the House when such period will have elapsed; and whether he will meanwhile furnish specific particulars of the agreement between the bankers concerned?
§ Mr. ACLANDThe answer to the first part of the question is in the affirmative. The American group, though free to abstain from further action, is not free to make or participate in any other loan till a certain period has elapsed. With regard to the last part of the question, though I was prepared to make the general statement which was made to the hon. Member for Nottingham on the 27th instant, as to the relations of the groups to one another, I should not feel justified, in view of the confidential nature of the agreements, in giving any details.