§ 45. General CROFTasked the Prime Minister whether, with a view to closing the German banks, he has considered handing their business over to the Bank of England or to other London banks with a view to winding them up and attending to any necessary business?
§ 54. Mr. PENNEFATHERasked the Chancellor of the Exchequer whether, in order to expedite the liquidation of the German banks in this country the Government will invite offers from British banks or financial concerns for all their disposable assets, retaining only in the hands of the custodian such securities as cannot now be sold; and, if not, will he state the reasons against the adoption of such a course?
§ Mr. BONAR LAWAfter making inquiry, I am of opinion that the proposal in these questions is not practicable, but I am again considering whether the winding-up of these banks can in any way be hastened, and hope to be able to make a statement on this subject shortly.
§ Mr. PENNEFATHERWill the right hon. Gentleman state what are the objections to inviting British banks and finance companies to tender for these assets?
§ Mr. BONAR LAWIt really is not possible to give all the reasons in answer to a question, but perhaps my hon. Friend will see me about it.
§ Mr. BILLINGIs the right hon. Gentleman prepared to give a Committee of this House access to the books of the German banks for the past ten years so that we may ascertain, if possible, where some of the finance has gone?
§ Mr. SPEAKERThe hon. Member must give notice.