§ 88. Sir JOHN FERGUSONasked the Financial Secretary to the Treasury if he will in future make it a condition that every Dominion or Colonial loan seeking admission to the Treasury list of trustee securities under the Colonial Stock Act, 1900, shall discharge interest, capital repayments, and sinking fund in English pounds sterling, as defined by the Gold Standard Act, 1925, and the Currency and Bank Notes Act, 1928?
§ Mr. PETHICK-LAWRENCEThe hon. Member's proposal is, I think, unnecessary. Admission of Dominion or Colonial loans to the list of Trustee Stocks depends in the first place on the stock being registered in this country under the Colonial Stock Acts, and I am not aware of any stock having been registered under that Act which was not a sterling loan.
§ Sir J. FERGUSONHas the hon. Gentleman's attention been drawn to the decision of several of the Australian banks to pay dividends at the Australian rate of exchange to holders registered in London?
§ Mr. PETHICK-LAWRENCEI think the hon. Gentleman is under an entire misapprehension. The question refers to trustee securities under the Colonial 2116 Stock Act. He is now speaking about entirely different types of securities, and I think the confusion is, therefore, in his own mind.