§ The CHANCELLOR of the EXCHEQUER (Mr. Chamberlain)
The restriction on conversion issues was completely withdrawn on the 14th January so far as ordinary business transactions are concerned. It is still necessary to retain it for the present in the special case of optional conversion issues which rank as Trustee Securities and involve either underwriting or an invitation to the public to subscribe new cash.
§ Colonel WEDGWOOD
May I ask whether the Chancellor of the Exchequer realises the serious effect which his embargo has upon our export trade and whether he is still attempting to force up the price of sterling, which has already risen to a high figure?
§ Mr. CHAMBERLAIN
I presume the right hon. and gallant Gentleman refers to the embargo mentioned in the question? If so, then I am not aware of it.