§ 48. Sir F. WISEasked the Chancellor of the Exchequer if the dividend on Suez Canal shares and bonds is paid in francs; and, if so, what is the loss to the State, taking francs at 150 compared to 25 in pre War days?
§ Mr. McNEILLThe answer to the first part of the question is in the affirmative As regards the second part, the earnings of the company in dues are on a gold basis, and the number of francs available for payment of dividend thus increases in proportion as the franc falls.
§ Lieut. - Commander KENWORTHYWill the right lion. Gentleman make representations on this matter, seeing that British ships passing through the Canal have to pay their dues in sterling?
§ Mr. McNEILLIt is on a gold basis.
§ Lieut. - Commander KENWORTHYAre we not to understand that the dividends are being paid in paper francs?