HC Deb 11 December 1934 vol 296 cc192-3
26. Mr. GIBSON

asked the President of the Board of Trade the value of debts frozen in Rumania owing to traders in this country for which no exchange is being provided; and if the Government intends to take any steps to press the Rumanian Government to release these debts either by a compensation system or the establishment of a clearing-house scheme?

Lieut.-Colonel COLVILLE

I have seen an estimate which puts the figure of outstanding trade debts in Rumania at over £2,000,000, but I have also seen lower estimates. As my right hon. Friend has already stated, this matter is receiving the earnest consideration of His Majesty's Government and arrangements have been made for discussions to take place in London next week with a representative of the Rumanian Government. For the purpose of these discussions, the Board of Trade are taking steps to obtain more definite information as to the amount of the debts.


While thanking my hon and gallant Friend for his reply, may I ask him further, in view of the fact that there is a very strong balance of trade in favour of Rumania with this country, that he will remember to bring pressure to bear upon Rumania if she is not prepared either to bring into operation a compensation scheme or to co-operate, and if she is not willing, that he will make a clearing-house scheme to ensure that she pays to our nationals nearly £2,000,000 which is frozen at the present time?

Lieut.-Colonel COLVILLE

All considerations will be borne in mind in the discussion that will take place next week.


Is our trade in such a state that we have to bring pressure to bear upon every country to trade with us.

Lieut.-Colonel COLVILLE

There is no reason why we should not bring pressure to bear if we are not treated fairly.

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