§ Mr. MANVILLEasked the President of the Board of Trade whether he proposed that the surplus of assets over liabilities, after combining both German property and debts against English property and debts, would be applied to liquidating the deficit balances of similar combinations of property and debts of the other enemy countries and, if not, would he state what method the Government proposed to adopt to satisfy the claims of British creditors in the three enemy countries apart from Germany?
§ Sir A. GEDDESAny surplus assets on German account will be available for payment of claims by British nationals in respect of enemy Government action affecting their property in the territories of Austria-Hungary, Bulgaria, and Turkey. But it cannot, be used for the payment of private debts due by enemies 1417 other titan Germans. The payment of such debts will be secured as far as possible by the property of the nationals of the countries of the debtors.
§ Mr. A. M. SAMUELWhat is the reason for the delay in clearing up the debits and credits of British and German commercial transactions, in view of the fact that the right lion. Gentleman has already stated that a clearing house has been set up in Germany for the purpose?
§ Sir A. GEDDESI think my hon. Friend must have misunderstood me about a clearing house being set up in Germany, what I said was, "Set up here." Obviously these transactions cannot start until the ratification of Peace is completed.