§ 21. Sir F. WISEasked the Prime Minister if France has paid the whole of her War debt to Spain; and, if so, what was the amount?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. William Graham)I assume that the hon. Member refers to the loan of 455 million pesetas advanced by a consortium of Spanish bankers to the French Government by instalments during the period March, 1918, to March, 1919. I understand that these advances have been repaid.
§ Sir F. WISEWill the hon. Gentleman say when these were repaid?
§ Mr. GRAHAMIt is a little difficult, but I understand that the last of them were repaid in December last.
§ Colonel ASHLEYWhat is the hon. Gentleman doing about the debt due to us from France?
§ Mr. GRAHAMThe question hardly bears on this, because strictly speaking this was a loan by bankers, no doubt in the form of Government support to other bankers. The hon. and gallant Gentleman raises a much larger issue which I must not now discuss.
§ Colonel ASHLEYWas not this loan made by private individuals or by the Government?
§ Mr. GRAHAMNo, it was made to French bankers, but there does not seem to be any doubt that it was in large measure a Government arrangement.
§ Lieut.-Colonel JAMESIs there any difference between bankers and citizens?