HC Deb 24 February 1927 vol 202 c1922
90. Colonel WEDGWOOD

asked the Chancellor of the Exchequer whether the credit given to this country by the firm of Morgan, Grenfell, and Company in April, 1925, has as yet involved us in any expense; and, if so, how much?


I assume the hon. and gallant Member refers to the credit of $100,000,000 arranged in 1925 with Messrs. J. P. Morgan and Company. The expense has been limited to the commissions sanctioned by Parliament, namely, $2,500,000 in respect of the two years.


Is it not a fact that on the other credits arranged at the same time no commission was paid?


They were arranged between the Bank of England and the Federal Bank of the United States.