§ 5. Captain FULLERasked the Secretary of State for India if he is consulting with the Government of India on the 772 likely effect on the export trade of India if the clearing house system for Anglo-German trade is set up?
§ Sir S. HOAREThe Government of India are being kept in touch with developments.
§ Captain FULLERShall we have an opportunity of knowing, before the passing of the Bill, what their views are on this question?
§ 13. Major NATHANasked the Secretary of State for Foreign Affairs whether the Treaty of Commerce and Navigation between the United Kingdom and Germany, signed at London, 2nd December, 1924, is still in force; and, if so, whether he has considered whether action in relation to Germany under Clause 2 of the Debts Clearing Offices and Import Restrictions Reprisals Bill would be in conformity with the obligations of His Majesty's Government under Article 10 of such Treaty?
§ The SECRETARY of STATE for FOREIGN AFFAIRS (Sir John Simon)The answer to the first part of the hon. and gallant Member's question is in the affirmative. As regards the second part, action under Clause 2 of the Bill in question would not in normal circumstances be in conformity with Article 10 of the Treaty.
§ 14. Mr. DINGLE FOOTasked the Secretary of State for Foreign Affairs the number of British subjects ordinarily resident, or ordinarily carrying on business, in Germany at the present time; and whether he can give any estimate of the debts owing to such persons by persons resident in the United Kingdom?
§ Sir J. SIMONI have no information on either of these points.
§ 31. Mr. T. SMITHasked the President of the Board of Trade if he will state in the case of which foreign countries payments or transfers to persons ordinarily resident, or ordinarily carrying on business, in the United Kingdom are subjected to restrictions or are prohibited or have been discontinued?
§ Lieut.-Colonel COLVILLE (Secretary, Overseas Trade Department)Some degree of control over the purchase and sale of foreign exchange for the purposes of payments or transfers to other countries including the United Kingdom exists in 29 countries, of which I will circulate a list in the OFFICIAL REPORT.
§ Major NATHANIn view of the Debate in the House to-day, will the hon. and gallant Gentleman give that list now for the general convenience, as it is important for the consideration of the Bill?
§ Lieut.-Colonel COLVILLEIf the House desires, I can read the list, but it is a long one of 29 names.
§ Following is the list:
| Austria. | Portuguese East Africa. |
| Bulgaria. | |
| Czechoslovakia. | Turkey. |
| Denmark. | Argentina. |
| Estonia. | Bolivia. |
| Germany. | Brazil. |
| Greece. | Chile. |
| Hungary. | Colombia. |
| Iceland. | Costa Rica. |
| Latvia. | Ecuador. |
| Lithuania. | Nicaragua. |
| Rumania. | Paraguay. |
| Spain. | Uruguay. |
| Yugoslavia. | Cuba. |
| Angola. | Honduras. |
§ 32. Mr. R. T. EVANSasked the President of the Board of Trade whether he can give an estimate of the relative position as between Germany and the United Kingdom in the matter of current debts on account of ordinary commercial transactions?
§ Lieut.-Colonel COLVILLEI regret that the desired information is not available.
§ 33. Mr. T. WILLIAMSasked the President of the Board of Trade in which foreign countries quantitative restrictions are imposed on the importation into such foreign countries, respectively, of goods of any class or description grown, produced, or manufactured in or consigned from a country to which Clause 2 of the Debts Clearing Office and Import Restrictions Reprisals Bill is designed to apply; and whether those restrictions are in the opinion of the Board of Trade discriminatory against or specially detrimental to a country to which the said Section applies?
§ Lieut.-Colonel COLVILLEVarious forms of quantitative restrictions are imposed on imported goods, including goods imported from countries to which Clause 2 of the Bill would apply, in 21 countries, of which I will circulate a list 774 in the OFFICIAL REPORT. With regard to the second part of the question, it is not possible to make a statement as to the nature and effects of these restrictions within the limits of question and answer.
§ Mr. WILLIAMSCould the answer be delivered almost immediately in view of the Debate to-day?
§ Lieut.-Colonel COLVILLEI think the hon. Gentleman has misunderstood me. I could not within the limits of question and answer fully explain the position in relation to the effect of all these restrictions in foreign countries.
§ Mr. WILLIAMSDid I not understand the hon. and gallant Gentleman to state that the subject matter of the reply would be circulated later?
§ Lieut.-Colonel COLVILLEYes, I have the list here, and I will give the hon. Gentleman one.
§ Following is the list:
| Austria. | Hungary. |
| Belgium. | Iceland. |
| Czechoslovakia. | Latvia. |
| Denmark. | Lithuania. |
| Estonia. | Persia. |
| France, and French West Africa. | Poland. |
| Rumania. | |
| Spain. | |
| Germany. | Switzerland. |
| Greece. | Turkey. |
| Holland, and the Dutch East Indies. |
§ 49. Mr. T. SMITHasked the Secretary of State for Dominion Affairs if he will state the amount of trade to Germany from the several British Dominions, and from the several British Dominions to Germany, for the last 12 months or the latest convenient 12-monthly period?
The SECRETARY of STATE for DOMINION AFFAIRS (Mr. J. H. Thomas)I am circulating in the OFFICIAL REPORT such figures as are immediately available. I am causing inquiries to be made, with a view to ascertaining whether any later figures can be supplied, and I will communicate the result to my hon. Friend as soon as possible.
§ Following are the figures:
775| Trade between Germany and the Dominions according to Dominion Statistics. | ||||
| Dominion, etc. | Date. | Exports from Germany. | Imports into Germany. | Balance. |
| Canada | Year ended 31st March, 1933 | $9,088,906 | $8,057,105 | + $1,031,800 |
| Australia | Year ended 30th June, 1932 | £1,427,079 | £3,088,171 | −£1,661,092 |
| New Zealand | Calendar year 1932 | £459,971 | £289,917 | + £170,054 |
| Union of South Africa | Calendar year 1933 | £3,241,284 | £1,981,786 | + £1,259,498 |
| Irish Free State | Calendar year 1932 | £1,302,527 | £69,910 | + £1,232,617 |
§ 55. Major NATHANasked the Chancellor of the Exchequer the respective estimated amounts of all debts now due in respect of goods grown, produced, or manufactured in or consigned from Germany and imported into the United Kingdom, and of all debts now due to or for the benefit of persons ordinarily resident or ordinarily carrying on business in Germany, or of any class of any such debts as aforesaid?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. Hore-Belisha)Since there are no exchange restrictions in force in this country I see no reason to suppose that debts now due, and unpaid, by persons in this country in respect of German goods or to persons in Germany amount to any large amount. I have no information as to the amount of bank balances belonging to persons in Germany, but I may take this opportunity to make clear that there is no intention of treating bank balances as debts to be cleared or to use the powers under the Debts Clearing Offices and Import Restrictions Reprisals Bill so as to interfere with them in any way.
§ Major NATHANMay I ask the hon. Gentleman how he reconciles that answer with the plain terms of the Bill before the House, and whether he has taken the views of the Law Officers as to whether the answer he has just given, except in so far as it is an undertaking by the Government, is in accordance with the Bill?
§ Mr. HORE-BELISHANaturally, I should not have given the answer unless I had been advised that it was an accurate one, and I have informed the hon. Gentleman that there is no intention to deal with the matter in the way in which he feared, but it is permissive.
§ Major NATHANIs it to be understood that the hon. Member is now, from his 776 place, and speaking on behalf of His Majesty's Government, giving a formal undertaking to the world that bank balances will not, outside the projected Bill, be touched by any machinery now envisaged by the Bill?
§ Mr. HORE-BELISHAIf the hon. Gentleman desires that reassurance I can solemnly inform him that what I have said once is true, but I will say it again, and what I say twice is equally true.
§ 56. Major NATHANasked the Chancellor of the Exchequer if he will state his estimate of the capital amount of the Dawes Loan and Young Loan, respectively, held by persons ordinarily resident or ordinarily carrying on business in the United Kingdom and, separately, of the capital amount thereof held by British subjects wherever resident or by incorporations incorporated by or under the law of the United Kingdom or of a country forming part of the British Empire as defined by the Import Duties Act, 1932, and by persons who are afforded His Majesty's protection and ordinarily reside or ordinarily carry on business in such a country?
§ Mr. HORE-BELISHAThe nominal capital amount of the sterling issues of the Dawes Loan held by persons in the United Kingdom is about £10,000,000 and of the sterling issue of the Young Loan is about £9,000,000. The amount of German obligations held by persons in the other parts of the British Empire is believed to be small, but I have no precise estimate at present.
§ 57. Mr. HENDERSON STEWARTasked the Chancellor of the Exchequer what is the total amount of the annual service due to British nationals by Germany in respect of the Dawes and Young Plans; and what is the amount at present outstanding?
§ Mr. HORE-BELISHAThe annual amount required for the service of the sterling bonds of the Dawes and Young Loans held by British nationals is estimated at about £1,700,000, on the basis that the service of the Young Loan will be met, as at present, in sterling and not in gold. The nominal amount of such bonds outstanding may be estimated at about £10,000,000 in the case of the Dawes Loan and about £9,000,000 in the case of the Young Loan.
| GERMAN LOANS OUTSTANDING. | ||||||
| (See Fourth Annual Report of the Bank for International Settlements.) | ||||||
| Country of Issue. | Dawes Loan (at 15th October, 1933). | Young Loan (at 1st June, 1933). | ||||
| Amount in currency of original issue. | Converted at rate of exchange of | Sterling value. | Amount in currency of original issue. | Converted at rate of exchange of | Sterling value. | |
| £ | £ | |||||
| United States of America. | $63,791,600 | 5.00 | 12,758,320 | $91,648,000 | 5.00 | 8,329,600 |
| United Kingdom | £9,446,500 | — | 9,446,500 | £11,200,100 | — | 11,200,100 |
| France | £2,356,100 | — | 2,356,100 | 2,374,962,000 | 76.25 | 31,147,043 |
| francs. | ||||||
| Belgium | £1,188,000 | — | 1,188,000 | 32,733,900 | 21.50 | 1,522,507 |
| belgas. | ||||||
| Holland | £1,964,900 | — | 1,964,900 | 67,828,000 | 7.43 | 9,128,937 |
| florins. | ||||||
| Germany | £252,400 | — | 252,400 | 34,153,300 | 13.20 | 2,587,371 |
| reichsmarks | ||||||
| Switzerland | £1,873,500 | — | 1,873,500 | — | — | — |
| Switzerland | 11,886,000 | 15.50 | 766,839 | 86,067,000 | 15.50 | 5,552,710 |
| Swiss francs. | Swiss francs. | |||||
| Italy | 79,781,500 | 59.00 | 1,352,229 | 104,100,000 | 59.00 | 1,764,407 |
| lire. | lire. | |||||
| Sweden | 20,428,000 | 19.40 | 1,052,990 | 102,773,000 | 19.40 | 5,297,577 |
| crowns. | crowns. |