HC Deb 19 February 1934 vol 286 cc19-20
40. Mr. MOLSON

asked the Chancellor of the Exchequer if he will, preparatory to the coming discussions on the German transfer moratorium, request the German Government to furnish an estimate of the nominal amount of German-owned capital invested outside Germany and, similarly, of foreign securities owned in Germany by German nationals?


According to an estimate by the German Statistical Office, published in March, 1933, the income arising from the capital and investments referred to in the question during the year 1932 was 200 million reichsmarks. I think it may be assumed that any later estimate which may be available will be furnished to the long-term creditors for the purpose of the meeting which is to be held in April next.


asked the Chancellor of the Exchequer whether he will suggest to the German Government that any re-arrangement of the transfer moratorium should provide for the abolition of the various separate exchange control regulations; that there should be only one creditor's account for the blocked claims of the foreign creditors of Germany; and that an international commission should arrange the sale of blocked marks in the creditor's account?

42. Mr. REMER

asked the Chancellor of the Exchequer whether he will intimate to the German Government that no transfer moratorium scheme which varies the contractual Sinking Fund obligations will be acceptable to British nationals unless an end is put to the re-purchase by German borrowers of German loans at prices less than issue prices by means of foreign exchange arising from the sale of German exports?


As was announced in the communiqué published on the 1st February, it is proposed to convene early in April a meeting of all long-term and medium-term creditors of Germany. It will be for the representatives of the British creditors to consider what specific proposals to bring forward at this meeting, and I am taking steps to bring both my hon. Friends' suggestions to their notice.