§ 45. Lieut.-Commander KENWORTHYasked the Prime Minister whether the War Debt settlement contract between His Majesty's Government and the Government of the United States of America has been finally ratified; and whether it will come before the House of Commons in any way?
§ Mr. BALDWINThe terms of the settlement of the British Debt to the United States agreed with the American World War Foreign Debt Commission have been approved by Congress and widely published. Discussions now proceeding relate only to technical points in connection with the actual Bonds to be given to the United States, and it is hoped that an early settlement of these points will be arrived at. As regards the last part of the question, I would refer to the answers given on the 26th February to my hon. Friend the Member for South Kensington, and on the 1st March to the hon. Member for Colne Valley.
§ Lieut. - Commander KENWORTHYMay we take it that the House of Commons is going to be asked to ratify it, and will not be put in an inferior position?
§ Mr. BALDWINThe question of ratification does not arise, as I have explained in previous replies. The matter can be discussed on the Finance Bill, where there is a Clause that touches on the subject.
§ Sir W. DAVISONHow did it come about that the repayment of this loan was to be in dollars, and not in sterling, which is very much to our disadvantage?
§ Mr. BALDWINThat would be a lengthy matter to go into now. I could easily explain it on the Finance Bill.