HC Deb 09 July 1930 vol 241 cc399-401
10. Mr. ARTHUR MICHAEL SAMUEL

asked the Secretary of State for Foreign Affairs whether he has any information as to the proposals made on 27th June, and subsequent dates, by the Mexican Minister of Finance, Montes de Oca, to the International Committee of Bankers in relation to the default since 1914 by the Mexican Government on its obligations to holders of Mexican Government securities?

Mr. A. HENDERSON

As these negotiations are still proceeding, there is no information that I can give the hon. Member at present.

Mr. SAMUEL

If I put down a question in a week or 10 days, will the right hon. Gentleman be able to give the information?

Mr. HENDERSON

If the hon. Gentleman puts down a question, I will do the best I can to get information, but we are not in control of the proceedings.

11. Mr. SAMUEL

asked the Secretary of State for Foreign Affairs if he will inquire of the Mexican Minister whether guarantees will be given to the representatives of the creditors of Mexico to ensure that any agreement arrived at between the Mexican Government and the International Committee of Bankers to terminate the 16 years' default by the Mexican Government in its obligations shall be carried out without interruption or revision except by consent of the creditors?

Mr. HENDERSON

As direct negotiations between the Mexican Minister of Finance and the representatives of the bondholders are at present in progress in New York with a view to reaching an agreement satisfactory to the bondholders, I do not consider that the inquiry suggested by the hon. Member would serve any useful purpose.

Mr. SAMUEL

In view of the fact that on one, if not even on a second occasion, the Mexican Government have broken the agreement to which that same Government have been a party, does he not intend to inform the Mexican Minister that guarantees will be required by His Majesty's Government to protect British savings entrusted to the Mexican Government in respect to any future agreement between the Mexican Government and the International Committee of Bankers?

Mr. HENDERSON

That is not a matter for which the Government are responsible.

Mr. SAMUEL

Are not the Government responsible for the savings of His Majesty's subjects abroad?

Mr. HENDERSON

We are not responsible if another Government fails to keep an agreement.

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