HC Deb 26 January 1931 vol 247 cc591-3
18. Mr. LESLIE BOYCE

asked the Secretary of State for Foreign Affairs whether, in view of the fact that the Mexican Congress has adjourned without ratifying the external debt agreement, he will request His Majesty's Minister in Mexico to protest against this further delay in ratification so far as it affects British subjects?

Mr. DALTON

The International Committee of Bankers, who are the qualified agents of the bondholders, and, as such, effected the agreement in question, are still in negotiation with the Mexican Government. They have not appealed to His Majesty's Government for any assistance, and, in these circumstances, my right hen. Friend does, not consider that it would serve the interests of the British bondholders at the present time to take the action suggested by the hon. Member.

Mr. SMITHERS

Will the hon. Gentleman communicate with this committee of bankers and ask them to issue an interim report of the present position?

Mr. DALTON

We are in touch with them, and we are able to co-operate in every practical way.

Mr. SMITHERS

Will the hon. Gentleman publish a report?

Mr. DALTON

The International Committee of Bankers are still engaged in negotiations with the Mexican Government, and, if in their view publication is desirable, there are means by which we can come to an agreement upon the matter. We do not want to press them to publish something which might defeat the object in view.

21. Mr. OSWALD LEWIS

asked the Secretary of State for Foreign Affairs whether the Mexican Congress has yet ratified the agreement arrived at last year by which the 17-year-old default of Mexican Government obligations may be terminated; and, if ratification has not taken place, will he state whether any payments were made by the Mexican Government on 1st January, 1931, on account of what is due to British holders of the defaulted direct obligations of the Mexican Government?

Mr. DALTON

The answers to both parts of the question are in the negative, although I understand that further negotiations are taking place between the International Committee of Bankers and the Mexican Government on the subject.