HC Deb 16 July 1923 vol 166 cc1857-8
27. Mr. A. M. SAMUEL

asked the Under-Secretary of State for Foreign Affairs whether he is aware that the Agreement signed with the Rumanian Commission for the settlement of private debts due to British commercial creditors has been varied by the Rumanian law of 2nd June, 1923; whether he will point out to the Rumanian Minister of Finance, who has this week arrived here, that Article 12 of the new law is regarded by British creditors as being contrary to the existing agreement to which His Excellency M. N. Titutesco was a party; and will he request the Rumanian Government to give effect to the judicial decisions in favour of British subjects pronounced by the Rumanian courts of law against Rumanian commercial debtors?

Lieut.-Colonel BUCKLEY (Secretary, Overseas Trade Department)

I have been asked to reply. The matter has been discussed with M. Bratiano, and I understand that, as the result of further discussions which have taken place between representatives of British creditors and M. Bratiano, the latter has undertaken that the law in question shall be so amended as to bring it into conformity with the agreements, and remove the hardships it inflicts in its present form on British creditors.


Will my hon. Friend see that a representative of his Department of the Foreign Office is present when agreements are arrived at between the Rumanian authorities and British subjects, so that it may be possible to see that these people do honour their agreements and bargains with British subjects?

Lieut.-Colonel BUCKLEY

I must ask for notice of that question.

Brigadier-General SPEARS

asked the Under-Secretary of State for Foreign Affairs, whether, in view of the fact that the Rumanian government has not even yet resumed sinking fund operations and payment of interest in gold lei on Rumanian government 4 per cent. bonds although they are under contract with the pre-War British holders of those bonds, he will consider making strong recommendations to the Rumanian Finance Minister on the subject?


During the Rumanian Finance Minister's visit to London representations were made to him, as I informed the hon. Member on the 11th July, on all the various subjects affecting the economic and financial relations of Great Britain and Rumania. The specific point referred to by the hon. and gallant Member has, moreover, been brought to the notice of the Rumanian Minister in London, I regret to say, so far without any result whatever.


What is the good of making representations to people who pay no attention to those representations?


I agree there is not much good.