§ 25. Mr. SMITHERSasked the President of the Board of Trade what is the amount the Soviet Government, as successors to the Russian Imperial Government, owe to British investors in governmental, railway, and municipal securities?
§ Mr. W. GRAHAMThe capital amount of the bonds in sterling and roubles of Russian State Loans, Guaranteed Railway Loans, and Loans of Municipalities and other Institutions in respect of which claims have been lodged with the Russian Claims Department is approximately 41 million pounds sterling, and 242 million roubles, respectively. In addition, there is an unascertained amount of accrued interest due on the securities.
§ Mr. SMITHERSIf and when the Government can resume diplomatic relations with Russia, will the right hon. Gentleman press upon his colleagues in the Cabinet the necessity of at least getting some payment for these debts or recognition of them?
§ Mr. HAYCOCKWhat is the market value of this paper now?
Sir F. HALLSurely in the case of a defunct or bankrupt country you cannot take that at its face value?
§ Mr. GRAHAMPlainly, no one familiar with this controversy can pronounce on the value this afternoon. As regards the other supplementary question, I have no doubt that this and other points will be borne in mind in any negotiations that take place.