§ 29. Sir CHARLES CAYZERasked the Chancellor of the Exchequer whether any portion of the proceeds of the German ½ per cent. international loan of 1930, issued in London, was ultimately received in cash into the British Exchequer; and, if so, will he state the amount so received?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. Hore-Belisha)In accordance with the Treasury Minute dated the 20th June, 1930 (Command Paper 3617), the share of the United Kingdom in the proceeds of the issue of the German Government international 5½ per cent. loan, 1930, which amounted to £9,057,247 14s. 11d., was paid to the National Debt Commissioners and applied by them to the cancellation of long term debt.
§ Sir ARTHUR MICHAEL SAMUELIn view of the money having been received by the Treasury, are the Government doing anything to protect those British subjects who subscribed this loan?
§ Mr. HORE-BELISHAA question of that sort would necessitate my being given notice.
§ Sir A. M. SAMUELIs not the hon. Gentleman aware that those who borrowed the money, namely, the German Government, have defaulted upon their contractual obligation with respect to it?
§ Mr. HORE-BELISHAIf my hon. Friend will put any question of that kind on the Paper, I will give him a considered reply.