§ 34. Mr. LYONSasked the Chancellor of the Exchequer the approximate amount of War Loan held by foreign investors?
§ Major ELLIOTI regret that exact information is not available, but from such indications as exist it seems that the total foreign holdings (excluding holdings in the British Empire) do not exceed £100 millions and may be as low as in the neighbourhood of £50 millions only.
§ Mr. LYONSWhile thanking my right hon. and gallant Friend for that answer, I would ask whether he is satisfied that the response of these holders to the conversion scheme is wholly satisfactory?
§ Major ELLIOTI think these are early days yet to say that, but the figures I have given as to the amount show that the response will not affect the success of the scheme one way or another.
§ Sir P. HARRISWill the right hon. Gentleman consider publishing a special circular suitable for foreign investors?
§ Major ELLIOTI will have to consider that suggestion.