§ 46. Mr. LAMBERTasked the Chancellor of the Exchequer what are the items comprised in the estimated loss of £11,000,000 to the British Treasury through the suspension of War debt payments?
§ 47. Mr. MAITLANDasked the Chancellor of the Exchequer if he will issue a White Paper showing the direct effect upon the national finances of this country and of other countries concerned if President Hoover's proposal relating to reparation and inter-Governmental debts is put into operation, and the War debt payments due to the United Kingdom by the Dominions are also postponed for a period of 12 months?
§ 48. Captain PETER MACDONALDasked the Chancellor of the Exchequer what is the precise nature of the international liabilities in the current financial year of all debtor countries which would be affected by the proposals of the President of the United States for temporary suspension of payments?
§ The CHANCELLOR of the EXCHEQUER (Mr. Philip Snowden)I cannot add anything to the statement which I made yesterday in reply to the right hon. Member for the Edgbaston Division (Mr. Chamberlain).
§ Mr. LAMBERTWill the right hon. Gentleman be good enough to tell us what countries will be relieved and what Dominions will be relieved through the suspension of these payments?
§ Mr. SNOWDENIf the right hon. Gentleman will refer to the answer which I gave yesterday, he will find that information.
§ Mr. LAMBERTMay I respectfully ask my right hon. Friend—or the right hon. Gentleman—whether his statement published yesterday contained the information for which I have now asked?
§ Mr. SNOWDENYes. The only part of the three questions to which I have not given a direct answer, perhaps, is the point dealing with how other countries will be affected. It is quite impossible to give a reply to that question until we see the form in which the plan finally emerges.
§ Mr. THORNEIf the right hon. Gentleman is considering Question 47, will he at the same time take into consideration the tremendous jump in securities that has happened since 20th June?
§ Mr. MAITLANDIf the right hon. Gentleman has any information regarding the effect of President Hoover's offer upon other countries which was not covered in the statement made yesterday, will he consider publishing that information at the earliest possible moment?
§ Mr. SNOWDENThe hon. Member cannot have heard what I said just now, that it is quite impossible to give any information as to the effect on other countries until we see the form in which the plan finally emerges. Replying to my hon. Friend behind me, for other reasons I have taken note of what has happened with satisfaction.
§ Mr. WISEIs not this matter of such complication and importance that it cannot possibly be elucidated by question and answer, and in the circumstances will not the Government give an opportunity for discussion in the House, so that the whole matter can be gone into?
§ Mr. SNOWDENNo, Sir, I think it would be very inadvisable in the present state of the negotiations for the matter to be discussed in the House.
§ Mr. WISEWill the Chancellor say why this matter should be discussed in the French Parliament and in other Parliaments and not here?
§ Mr. SNOWDENI think the contrast between the two is sufficient reason why we should not follow them.