§ 51. Mr. FRANKLINasked the Prime Minister whether his attention has been called to Article 112 of the Treaty of Sevres in reference to the loans of the Imperial Ottoman Government Four per cent. 1891 (Egyptian Tribute), and the Imperial Ottoman Government Three and a half per cent. Conversion 1894 (Egyptian Tribute), and the variation of that clause in the Treaty of Lausanne, Article 18, and also to the letter of the Foreign Office, under date 22nd March, 1922, written at the time when the British Protectorate over Egypt terminated, in which letter it was expressly stated that this change in the status of Egypt will not affect the security of bondholders of this loan, which will be protected under the terms of the Treaty with Turkey; and whether he can state what protection will be given to the bondholders of these loans under the terms of the Treaty with Turkey?
§ The PRIME MINISTER (Mr. J. Ramsay MacDonald)The reply to the first part of the question is in the affirmative. The Treaty of Lausanne does not alter the existing arrangements whereby the service of the loans is met. 1355 In consequence of the continuance of these arrangements, the service of these loans continues to be paid in full whereas no payment is at present being made in respect of the service of any other pre-War Ottoman public debt.