§ 12. Captain WEDGWOOD BENNasked the Chancellor of the Exchequer what Great Britain's debt to the United States of America represents in the form of purchases of raw materials, food, and munitions; on whose behalf those purchases were made; and what part of the debt is represented by credits for the purpose of maintaining the exchange?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. Hilton Young)It is impossible to give figures in the form asked. The British Government's expenditure in the United States of America was financed partly by loans raised in the United States market, partly by loans from the United States Government, partly by sales of securities, partly by purchase of exchange, etc. It is impossible to separate out particular items of expenditure and say that they were covered by particular items of income.