§ 23. Mr. A. M. SAMUELasked the Secretary of State for Foreign Affairs whether he is aware that the Mexican Finance Minister, Luis Montes de Oca, is attending a conference in New York for the purpose of dealing with the Mexican external debt; and will he request His Majesty's Ambassador in the United States of America to inquire of the Mexican Minister what steps the Mexican Government proposes to take in respect of its default since 1914 in its obligations to British holders of Mexican Government securities?
§ The SECRETARY of STATE for FOREIGN AFFAIRS (Mr. Arthur Henderson)Yes, Sir. The International Committee of Bankers on Mexico have announced that the Secretary of the Mexican Treasury will arrive in New York on 25th June to discuss with them both the external debt of the Mexican Government and the debt of the National Railways. Delegates of the British section of the Committee will be present at the discussions. As I have frequently stated in this House, the International Committee of Bankers are the properly qualified agents of the bondholders, and are authorised to carry on negotiations on their behalf with the Mexican Government. In these circumstances, I do not consider that any useful purpose would be served by instructing His Majesty's Ambassador in Washington to intervene.
§ Mr. SAMUELWill the right bon. Gentleman notify His Majesty's Ambassador at Washington that Mexico is now very prosperous and that British subjects have been deprived of £150,000,000 in the last 16 years?
§ Mr. HENDERSONI do not think it is necessary. The British representative on the Commission will be present.
§ Mr. SAMUELIs the right hon. Gentleman not aware that, after three years' conversations, we have not arrived at an alleviation of the situation?
§ Mr. HENDERSONAs the hon. Gentleman has admitted that the matter has been standing over for so many years, surely he ought to be satisfied that we have got a move on.