§ Mr. LANSBURY(by Private Notice) asked the Chancellor of the Exchequer whether any communication has been received from the United States Government on the subject of the British War Debt?
Mr. CHAMBERLAINOn the 22nd November the United States Government addressed a Note to His Majesty's Government transmitting a statement of the amounts due under the provisions of the Funding Agreement of 1923 and the Moratorium Agreement of 4th June, 1932. The Note also conveyed an assurance that the United States Government were fully disposed to discuss through diplomatic channels any proposals which His-Majesty's Government might desire to put forward in regard to the payment of this indebtedness, and that such proposals would receive careful consideration with a view to eventual submission to the American Congress. Yesterday there was communicated to the United States Government a reply to this Note to the following effect:
213 His Majesty's Government welcome the assurance mentioned above, but they recall the statement in the British Note of June last that in view of recent events there appeared at that time to be no prospect of usefully renewing discussions as to the final revision of the War Debt Settlement. They go on to express their regret that the considerations which governed their decision six months ago apply with equal force to-day, and their conviction that it would be useless and consequently unwise to initiate negotiations at present. They add, however, that they will continue to watch for any effective opportunity of taking steps in that direction.
A White Paper containing the terms of the United States Note and of the reply will be available in the Vote Office immediately after Questions.
§ Mr. LANSBURYThere is nothing I want to say at this moment on the statement made by the Chancellor of the Exchequer, except to wish him success in bringing about negotiations for a proper settlement of the debt between ourselves and America.