HC Deb 10 July 1917 vol 95 c1737
58. Colonel BURN

asked the President of the Board of Trade whether all the licences granted to German banks and firms have been definitely withdrawn; and, if so, will he undertake that no continuation of these licences will be granted during a period of years after the declaration of peace?

Mr. BONAR LAW

My right hon. Friend has asked me to answer this question. The licences to the enemy banks are granted in order to enable payment to be made to British, Allied and neutral creditors and securities held by banks to be properly disposed of, and cannot be cancelled till this work has been done. As regards the second part of the question, the existing licences are applicable only during the War, and the whole question will necessarily have to be reconsidered in relation to the conditions which will obtain after the conclusion of peace.

Sir HENRY DALZIEL

Can my right hon. Friend give any indication when he thinks this change will be made and the licences withdrawn?

Mr. BONAR LAW

I cannot say, but I hope it will not be very long delayed.

Colonel BURN

Is he absolutely certain that these men will not be able to start again immediately after the War?

Mr. BONAR LAW

I hope not, but it will depend upon the Government in power at that time.

Mr. PEMBERTON BILLING

If the right hon. Gentleman is leading the House may we be assured that that will be the case?