39. Mr. MALONEasked the Chancellor of the Exchequer whether His Majesty's Government has abandoned, or contem- 547 plates abandoning, the scheme of international credits unanimously adopted at Brussels; how many applications have been before the international credits organisation for the right to issue gold bonds under the auspices of the League of Nations?
Mr. YOUNGThe Termeulen scheme is a matter for the consideration of the League of Nations and the countries which desire to borrow, and His Majesty's Government are not directly concerned in it. I understand, however, that four definite applications are before the League and that numerous other applications are pending.