§ 50. Lieut.-Commander KENWORTHYasked the Chancellor of the Exchequer whether the proposal for the formation of an international financial corporation under the auspices of the Bank of International Settlements was submitted to the Treasury for an opinion; whether the bearing of the proposal on future international debt and reparation payments was considered; what advice was given by the Treasury; and what control will be exercised by the Treasury over the operations of this corporation as affecting international trade and the payment of debts and reparations?
§ Mr. PETHICK-LAWRENCEThe proposal in question was brought to the notice of the Treasury unofficially, but no opinion or advice was asked for or given and no question of Treasury intervention is involved. Obviously, if such a scheme can be successfully launched on the international markets it should tend to alleviate the present credit difficulties of the world.
§ Lieut.-Commander KENWORTHYIn the case of this scheme being acceptable or accepted, will not the Treasury come in then, in view of the effect on reparations and trade?
§ Mr. PETHICK-LAWRENCEI cannot add anything to the answer which I have given.