HC Deb 12 April 1922 vol 153 cc395-6

asked the Prime Minister if he is aware that legislation is contemplated, or has been passed, in Germany which declares that where debts are owed by a company in Germany which is controlled by Allied interests outside Germany, and the same are paid under Article 296 of the Treaty of Peace, the full difference of the exchange shall be charged to that company; whether a German company controlled in Germany is exempt from such charge; and whether, since this measure is a direct infringement of Article 276 (c) of the Treaty, which states that Germany must not subject Allied nationals to any charge other or higher than those imposed on her own nationals, representations will be made to the German Government on the subject?

The PARLIAMENTARY SECRETARY to the BOARD of TRADE (Sir W. Mitchell-Thomson)

I have been asked to reply. The answer to the first two parts of the question is in the affirmative. With regard to the last part of the question, the German Government contend that the valorisation of their debts is an obligation imposed upon debtors by the Treaty, and is not, therefore, an infringement of the Article referred to.