§ 56. Sir JOHN FERGUSON
asked the Chancellor of the Exchequer whether he is aware that money has been lost by British investors in overseas loans owing to default by the borrowers; and whether he will request the advisory committee of the Board of Trade to set up an examining body, to include members of their own committee, the Stock Exchange 938 Council, and the Bankers' Association, to whom all issuing houses shall be required by law to submit proposed invitations to the public to subscribe prior to any issue of an overseas loan in the United Kingdom being permitted?
§ Major ELLIOT
My right hon. Friend regrets that he cannot see his way to adopt my hon. Friend's suggestion.
§ Sir J. FERGUSON
Is it not a fact that a careful computation which has been made of the loss of British savings by these oversea loans over a period of years has put the total at no less Shan £2,000,000,000.