§ 58. Mr. PENNEFATHERasked the Chancellor of the Exchequer what rate of interest has so far been charged on our debt to the United States of America; and whether, in view of cheaper money, this rate will now be reduced pending funding?
§ Sir R. HORNEThe demand obligations by which this debt is at present represented carry interest at five per cent. The point raised in the second part of the question will be one of those for discussion in the negotiations regarding funding.