§ 65. Sir W. SUGDENasked the Chancellor of the Exchequer what sums have been paid to the Treasury during the year 1925–26 by France, Italy and Belgium, capital and interest, of the sums owing to Great Britain, and what interest is charged to each country upon such debt?
§ Mr. McNEILLNo cash payment from France was received by the Treasury during 1925–26 in respect of the War Debt of France to this country; interest at Bank of England rate (now 5 per cent.) is being added to the debt as it accrues. Italy's War Debt has been funded on the terms set forth in the Agreement of 27th January, 1926 (Command Paper 2580); the sum of £2,000,000 was paid to the Treasury under this Agreement during 1925–26. The War Debt of Belgium was transferred to Germany by the Treaty of Versailles, and approximately £1,000,000 was received by the Treasury in 1925–20 out of the Dawes annuities in respect of this debt. The Reconstruction Debt of Belgium was funded as from 1st January, 1926, and will be repaid in 30 years with interest at 5 per cent. The sum of £344,575 was received during 1925–26.
§ Sir W. SUGDENMay I ask whether representations have been made to these national creditors that they should pay in kind, sending us, for example, coal, to enable our industries to proceed?
§ Mr. McNEILLI must have notice of that question.
§ Mr. SNOWDENDid the right hon. Gentleman say in his reply that this cash came from France last year?
§ 66. Sir F. WISEasked the Chancellor of the Exchequer the amount of the June payment of interest and capital on account of the external debt to the United States?
Mr. McNEILThe sum of $67,950,000 was paid.to the United States Government in respect of interest on 15th June. No payment in respect of capital was due on that date.