§ 47. Sir NICHOLAS GRATTAN-DOYLE
asked the Chancellor of the Exchequer whether, in order to protect depositors in British banks, he will consider recommending that an embargo shall be placed upon the granting of further short-term acceptance credits for financing with British money German trade, in view of the losses experienced by short- and long-term creditors of Germany owing to the default of Germany upon existing unliquidated credits granted by British financial institutions, firms, and investors?
This is not a matter on which I should think it necessary to intervene and the protection of depositors' money can, I think, safely be left to the institutions concerned.
§ Mr. CRAVEN-ELLIS
May I ask if the right hon. Gentleman will consider 968 the advisability of making the foreign exchange market the monopoly of the Exchange Equalisation Fund, thereby eliminating the risk referred to.
§ 75. Sir N. GRATTAN-DOYLE
asked the Secretary of State for Foreign Affairs whether he is aware that Hamburg receives for harbour dues sterling and other foreign currencies adequate for the full contractual interest and sinking fund on Hamburg loans borrowed since 1925 in London; and will he set up a harbour dues clearing system as between British and German shipping using British and German ports, respectively, as a remedy for the violation by the transfer moratorium of the terms upon which Hamburg loans were raised in London?
§ The LORD PRIVY SEAL (Mr. Eden)
I would refer my hon. Friend to the answer which my right hon. Friend, the Foreign Secretary, gave to him yesterday, to which I have nothing to add.