§ 3. Lieut. - Commander KENWORTHYasked the President of the Board of Trade whether he can state the effect of the payments made for the service of the British debt to the United States of America on the trade between this country and the United States of America; and, if so, what is the effect?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. William Graham)A volume might be written in reply to the hon. and gallant Member's question. I do not think I could be expected to say more in a Parliamentary answer than that one important effect is no doubt to reduce the amount which this country can lend abroad.
§ Lieut. - Commander KENWORTHYCannot the hon. Gentleman give me one of his famous short answers? Is it having a good or a bad effect on our trade?
Mr. W. A. JENKINSWill the hon. Gentleman make representations to America with a view to making better terms or cancelling our debt altogether?
§ Mr. HOFFMANHas not the increased price of grain occurred by reason of the payment of this debt?
§ Lieut. - Commander KENWORTHYThis is the first example we have of a modern great payment between States. Cannot the Government tell us whether it is having a good or a bad effect on our trade?