§ 43. Colonel WEDGWOODasked the Chancellor of the Exchequer whether, in view of the £30,000,000 loan made to France, he will now remove the embargo on the loan of sterling abroad by private citizens?
§ Mr. HORE-BELISHAMy right hon. Friend does not feel able to withdraw his request as regards foreign issues. The credit to the French Government referred to in the question was a private short-term banking operation, and no public issue was involved.
§ Colonel WEDGWOODWhy should the Bank of England be allowed to lend sterling abroad, when private citizens of this country cannot lend sterling abroad? Would it be possible to lend the hon. Member for North Tottenham (Mr. Doran) to Germany?
§ Mr. HORE-BELISHAIn reply to the apprehensions of the right hon. and gallant Member, I may say that the money was not lent by the Bank of England. Over the hon. Member for North Tottenham I have no jurisdiction.