§ 47. Sir NICHOLAS GRATTAN-DOYLE
asked the Chancellor of the Exchequer whether, in view of the Treasury alone having received all the proceeds of the London portion of the defaulted 5½ per cent. German loan issued as part of the international Young plan of appeasement and subscribed by British 642 private investors, he will recall to the Treasury the 5½ per cent. German bonds and issue British sterling 3½ per cent. securities in exchange?
§ 46. Mr. POTTER
asked the Chancellor of the Exchequer whether, as the Treasury received all the sterling proceeds of the German Five and-a-half per cent. Young loan issued in London, he will arrange for the Treasury to cash the interest coupons in sterling for British holders who have been in possession of the London issue of the bonds for the past 12 months and collect the mark moratorium payments on those bonds until Germany resumes payment of interest in sterling in accordance with the contractual terms of the loan at the time of issue?
§ 54. Colonel WEDGWOOD
asked the Financial Secretary to the Treasury whether he is in a position to supply a list of the German bonds on which the interest is in default or on which the German Government indicate that they propose not to pay interest; and, in particular, whether German municipal and provincial bonds, both in sterling and in dollars, are affected?
§ Mr. HORE-BELISHA
The German Transfer Moratorium does not come into force until 1st July and I understand that the effect on the service of particular German loans has not yet been decided, apart from the recognition of the special position of the Dawes and Young loans which was referred to in the communiqué issued on Saturday last.
§ Colonel WEDGWOOD
Surely some of the German municipalities have already defaulted. Is it not possible for His Majesty's Treasury to let investors in this country know which municipalities in Germany have defaulted?
§ Mr. HORE-BELISHA
I imagine that the answer which I gave was accurate, or I would not have given it.