§ 46. Colonel Sir ARTHUR HOLBRO0Kasked the Prime Minister whether, in order to assist those British investors who have become impoverished in consequence of their investments in Russian Government securities having been repudiated by the Soviet authorities, he will consider the possibility of making advances by way of loan to such investors to the extent of 20 per cent. of the face value of securities if deposited by them with the Exchequer as security, the amounts so advanced to be repaid with interest when the Russian authorities decide to recognise their liabilities to 1791 foreign investors in their national undertakings?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. Arthur Michael Samuel)No, Sir. It is clearly out of the question to ask Parliament to vote money for this purpose.
§ Sir A. HOLBROOKSeeing that the grant of such a loan has been made in Germany, why cannot it be done in this country?
§ Mr. SAMUELI think it would be a very unbusinesslike thing to follow the suggestion to advance £20, in respect of a £100 Russian bond worth about £4 in the market.
§ Mr. BUCHANANHow many of these investors are drawing parish relief at the present time?
§ Mr. PALINGWill the Government consider the advisability of making advances to people in this country who have become unemployed mainly as a result of the activities of the Government?