HC Deb 10 February 1932 vol 261 c824
2 and 3. Lieut.-Colonel SANDEMAN ALLEN

asked the Secretary of State for Foreign Affairs (1) whether he will inquire of the Hungarian Minister of Finance whether the Hungarian Government will arrange that Hungarian funds at present standing to the credit of Hungarian owners in Britain shall be earmarked for the payment of interest and principal upon defaulted Hungarian public securities in the hands of British investors, and in accordance with the plan now operating in the United States of America respecting Hungarian funds in United States banks;

(2) if he will instruct His Majesty's Minister in Budapest to obtain a copy of the undertaking given by the Hungarian Minister of Finance to the British agents entrusted with the issue in London to British investors of the 7½ Sterling Hungarian Land Mortgage Institute Bonds; and will he ascertain from the Hungarian Government the reason for breaking that undertaking, notwithstanding their ability to provide the necessary exchange?


My right hon. Friend is informed that the representatives of the British creditors concerned are in direct touch with the Hungarian Government, and he does not consider that the intervention of His Majesty's Government would serve any useful purpose.