§ 27. Mr. A. M. SAMUELasked the Secretary of State for Foreign Affairs whether he is aware that the Government of Mexico has not yet terminated its default since 1914 on its obligations to British holders of Mexican Government securities notwithstanding repeated conferences with the International Commit- 17 tee of Bankers; and will His Majesty's Government now take the necessary steps to protect British investors in view of the failure of the International Committee of Bankers to obtain a settlement?
§ Mr. DALTONThe hon. Member would seem to be unaware that an agreement was signed on the 25th of July last by the International Committee of Bankers with the Mexican Minister of Finance for the liquidation of the Mexican Government Debt. A full report on this agreement appeared in the "Times" on the 28th of July last. The agreement was concluded subject to ratification by the Mexican Congress and to the eventual approval of the holders of Mexican Government obligations.
§ Mr. SAMUELIs the hon. Gentleman aware that that was last July and that since then we have heard nothing about it? Has His Majesty's Minister in Mexico made any representations that they should speed up arrangements?
§ Mr. DALTONI understand that Congress are going to consider this matter at an early date. I think we should feel that the International Committee of Bankers have done very well in securing agreement in the matter.
§ Mr. SAMUELIs the hon. Gentleman aware that the International Committee of Bankers have been working for five years in this matter and that we have about £200,000,000 sunk in the country?