HC Deb 16 June 1925 vol 185 cc281-2
51. Captain GARRO-JONES

asked the Chancellor of the Exchequer whether, since he was assured six months ago that the Italian Government intended to initiate discussions in regard to its indebtedness of £550,000,000 to this country, he has received any communications indicating that the Italian Government will give effect to its intention; and, if not, whether the British Government proposes to take the initiative?

Mr. CHURCHILL

I can add nothing at present to the replies which I gave to the hon. and gallant Member on the 24th February and the 30th April last.

Captain GARRO-JONES

Does not the right hon. Gentleman recollect that he used this promise, which he obtained from the Italian Government, to fend off the inquiries which hon. Members desired to make some time ago; and as this promise has not been fulfilled, and seems very unlikely to be fulfilled, can he now say when the Government will take the next step in approaching the Italian Government?

Mr. CHURCHILL

This is rather a difficult matter, raising many international issues. I should gladly give the House any information I have. Perhaps the hon. and gallant Gentleman will put down the question again in a fortnight's time, and it is possible that I might then be able to add a little to what I have said now.

52. Captain GARRO-JONES

asked the Chancellor of the Exchequer whether, in view of the activity of the United States Government in pressing for the funding of their European debts, he will take the precaution of securing from the French and Italian Governments an explicit assent to the principle that no step should be taken by those nations to meet their obligations to the United States without a similar step being taken to meet their obligations to this country?

Mr. CHURCHILL

I do not consider it necessary to secure "an explicit assent" from the Governments of France and Italy to a principle, the justice of which is obvious, and upon which the declarations of His Majesty's Government have been unmistakable.

Captain GARRO-JONES

Does the right hon. Gentleman see that at the present time we have no security whatever against the French and Italian Governments entering into separate agreements with the United States? Would it not be an easy matter to secure their assent that they should not do this?

Mr. CHURCHILL

We have all the security implied in the natural strength of our financial relations with those two countries in these matters?