68. Lieut.-Colonel BUCKLEYasked what is the present amount of the indebtedness of the British Government to the Government of the United States; what is the present amount of the indebtedness of the Government of the United States to the Government of the United Kingdom; and, when all the necessary adjustments have been made, what is the estimated net balance: of the indebtedness of the British Government to the Government of the United States?
Mr. CHAMBERLAINThe present amount of the indebtedness of the British Government to the Government of the United States is $4,260,000,000. Exact figures of the amount of the indebtedness of the Government of the United States to the British Government are not available, such indebtedness consisting of claims on current account by various British Departments against several United States Departments, but the amount may be roughly estimated, converting sterling at the rate of $4.65, at $210,000,000. On this basis the estimated net balance in favour of the United States Government is $4,050,000,000.
§ Commander BELLAIRSDo these figures include any guaranteed loans for which this country is responsible?
§ Commander BELLAIRSWould the right hon. Gentleman be able to answer a question as to the extent of the loans from the United States to other nations of which we have guaranteed the payment, if any?
Mr. CHAMBERLAINI cannot say what the indebtedness is for. We have made purchases of many things in America besides war materials—principally food.
§ Colonel WEDGWOODWere we not guaranteeing the exchange at the rate of 4 dollars 75 cents?