HC Deb 08 March 1928 vol 214 c1229
73. Colonel WEDGWOOD

asked the Financial Secretary to the Treasury whether he will inquire as to the proportion of the interest on bonds of the Guaranteed Ottoman Loan of 1855 now paid to British residents, so that the French Government may pay their share to their own nationals and relieve us of our obligation in the matter?

Mr. SAMUEL

I fear that it would not be practicable to adopt this suggestion. The bonds in question are bearer bonds and, as the right hon. and gallant Member will appreciate, it would therefore be a matter of extreme difficulty to ascertain where they are held or to differentiate between bondholders of different nationalities.

Colonel WEDGWOOD

Is the hon. Member content to continue to allow this country to bear absolutely on its shoulders a burden which should be borne jointly by ourselves and the French Government? How much longer is it to continue?

Mr. SAMUEL

That is not the question which the right hon. and gallant Member has on the Paper.

Colonel WEDGWOOD

It arises out of the question. Does the hon. Gentleman intend to take any steps to see where the dividends on these bearer bonds are paid—whether it is in France to French accounts, or here to British accounts, and to distinguish accordingly?

Mr. SAMUEL

I think they are payable in London, but I am not sure. For obvious reasons, it would be utterly impossible for us to distinguish in the manner desired by the right hon. and gallant Gentleman.