§ 51. Mr. CURRIEasked the Chancellor of the Exchequer whether he sanctioned the circular issued to its creditors by an American mortgage company in London in which a reference is made to the opinions of the Treasury?
§ Mr. BONAR LAWThe Treasury were consulted by the company on the subject of the proposal in question before the 1324 circular was sent out. The Treasury expressed the opinion that it was very desirable in the national interest that arrangements of the character proposed should be carried out, but expressly stated that they could not allow a statement to appear in the circular to the effect that the proposal met with the approval of the Treasury, or that shareholders who declined the offer would be required to sell their holdings to the Government. The question whether the terms offered are such as ought to commend themselves to the shareholders is a matter for the shareholders themselves to consider, and the Treasury has expressed no opinion on that question.