§ 41. Sir A. FELLasked the Prime Minister if Germany is entitled under the Peace Treaty to sell, either directly or indirectly through other countries, upon the London market quantities of bonds 593 and securities which depress both the markets of the bonds sold and the other markets; and what steps he proposes to take to put an end to this practice if it should prove in fact to prevail extensively?
§ The CHANCELLOR of the EXCHEQUER (Mr. Chamberlain)Securities relating to property rights and interests within His Majesty's Dominions or Protectorates of German nationals at the date of the coming into force of the Treaty have to be delivered by Germany to this country or to the Dominions, as the case may be, within six months of that date. Such securities are charged by Article XVI of the Peace Treaty Order, 1919, and dealings in them in this country are prohibited. The sale of neutral securities held abroad at the coming into force of the Treaty by Germans is not illegal, and provides a most useful and necessary source out of which, without resort to borrowing in any form in this country or elsewhere, Germany can pay for food and raw materials and place herself in a position to fulfil her obligations under the Reparation Clauses of the Peace Treaty.