HC Deb 29 April 1925 vol 183 cc144-5

asked the Secretary of State for Foreign Affairs whether he can give the House any information of any efforts which have been, or are being made, by American nationals and others to obtain any payment from the various States of the Union which have defaulted on their debts?


As regards efforts made by United States and other foreign nationals, I have no information. As regards efforts made by British subjects, the Foreign Office has a certain amount of information which it would be impossible to compress within the limits of an answer to a Parliamentary question. Should the hon. Member desire it, how ever, I shall be happy to communicate to him privately a summary of our information on this point.


asked the Secretary of State for Foreign Affairs whether he is aware that the State of Bahia and the State of Para are in default in the payment of interest on loans raised in this country; whether the Province of Corrientes, in Argentina,:s also in default; and, if so, whether the Government will take steps to make the facts fully known in this country so that, if further proposals for similar loans are made, investors may be fully acquainted with the position?


The State of Bahia has made an arrangement with the bondholders, and is no longer in default; the City of Bahia is, however, in default, and also the State of Para and the Province of Corrientes. The fact that these States and municipalities are in default is already well known in financial circles in this country.


Would the right hon. Gentleman consider the desirability of publishing these facts, for the benefit of people who are not members of financial circles in the City of London, and who may not be aware of them?


If my hon. Friend feels that that is desirable, perhaps he will feel that my answer to his question will serve the purpose.

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