§ 61. Colonel WEDGWOODasked the Chancellor of the Exchequer whether he contemplates being able to remove the restrictions on new issues of capital before the House rises; and is he aware of the effect on trade and industry of this obstacle to getting fresh capital or of converting debts or debentures at a high rate of interest?
§ 66. Mr. HANNONasked the Chancellor of the Exchequer whether he contemplates the removal of restrictions on capital issues for re-financing purposes in the near future, in order to enable companies with limited cash resources to convert high interest-bearing debentures into cheaper forms of security?
Mr. CHAMBERLAINThe answer to the first part of the question is in the negative, but I would point out that the restrictions now apply only to foreign issues and to optional conversions requiring public issues or underwriting. There is nothing to prevent British industry from obtaining such additional resources as it needs by means of new capital issues, and I have no reason to suppose that a revival of trade and industry is being hampered by such restrictions as are still being maintained.
§ Colonel WEDGWOODIs the right hon. Gentleman not aware that foreign loans made by this country involve the export of goods made in this country, abroad?
§ Sir ARTHUR MICHAEL SAMUELIs my right hon. Friend aware that foreign loans made in this country in the last few years have involved this country in millions of loss?
§ Colonel WEDGWOODThat may be so, but I want to know whether the right hon. Gentleman is aware that the export trade of this country in the past and in the future must depend upon our ability to lend money.
§ Sir A. M. SAMUELIs my right hon. Friend aware——