HC Deb 02 April 1919 vol 114 cc1206-7
Sir HENRY DALZIEL

(by Private Notice) asked the Chancellor of the Exchequer whether he is now able to make any announcement in regard to the re-constitution of the Capital Issues Committee?

Mr. A. CHAMBERLAIN

The following Committee has now been appointed:

  • Lord Cunliffe, G.B.E. (Chairman)
  • Mr. Gaspard Farrer (Vice-Chairman)
  • The Right Hon. J. W. Wilson, M.P.
  • The Hon. Sir Arthur Lawley, G.C.S.I., G.C.I.E., K.C.M.G.
  • Sir Thomas Elliott, Bart., K.C.B.
  • Sir Hugh Barnes, K.C.S.I., K.C.V.O.
  • Sir W. H. Mercer, K.C.M.G.
  • Lieutenant-Colonel Sir Thomas Robinson, K.C.M.G., K.B.E.
  • Sir W. Watson Rutherford, M.P.
  • Sir Charles Sykes, K.B.E., M.P.
  • Mr. J. G. Griffiths, C.V.O.
  • Mr. H. E. Fass, O.B.E.
  • Mr. Robert Littlejohn
  • Mr. Owen Hugh Smith
  • Mr. C. J. Whittington with
  • Mr. A. C. Kelly as Secretary.
The terms of reference are as follow: To consider and advise upon applications received by the Treasury for licences under Defence of the Realm Regulation (30 F) for fresh issue of capital, with a view to preserving capital during the reconstruction period for domestic Purposes within the United Kingdom, and to preventing any avoidable drain upon Foreign Exchanges by the export of capital, except where it is shown to the satisfaction of the Treasury that special circumstances exist. The amended Defence of the Realm Regulation has already been laid on the Table of the House, and copies are available in the Vote Office. I hope that copies of the Treasury instructions to the Committee will be similarly available this evening. Hon. Members will see from these that, in order that applications may be dealt with expeditiously, the Committee will sit by panels, and that the Committee bas been instructed that no application should be refused unless and until the applicant has been given the opportunity of stating his case orally before one of the panels, whose decision is to be subject to confirmation by the full Committee.

The Committee has been asked, in considering applications, to take into account the extent to which the proceeds of the issue will be expended within the United Kingdom and the assistance which the issue may be expected to give to British trade, preference being given ceteris paribus to those oases in which the proceeds of the issue are to be applied in British Dominions overseas.