HC Deb 20 February 1924 vol 169 c1749

asked the Prime Minister whether His Majesty's Government will consider approaching the United States with a view to an arrangement whereby the payment of the British debt to America is made in sterling instead of in dollars?

The FINANCIAL SECRETARY to the TREASURY (Mr. William Graham)

No such step is in contemplation.


Does the hon. Gentleman not think that some steps might be taken in that direction, because of the effects on exchange, and therefore on trade, and to some extent on the cost of living?


No, Sir; the short reply to the hon. Member is that the United States would not entertain a request of that kind, because, even if we could agree to the suggestion, it would be quite unnecessary to put it forward.