§ 29. Mr. POTTERasked the Secretary of State for Dominion Affairs whether, in view of the United Kingdom holdings of British Columbia obligations, he will obtain from the Canadian Dominion Government an explanation of the official announcement on 17th April, on behalf of the Government of British Columbia, that recourse to the courts would be closed to holders of British Columbia external debt in relation to the conversion of British Columbia public debt?
The SECRETARY of STATE for DOMINION AFFAIRS (Mr. J. H. Thomas)I understand that inscribed stocks issued in the City of London have been safeguarded by British Columbia statute in relation to the contemplated conversion of British Columbia Public Debt, in accordance with an undertaking given by the British Columbia Minister of Finance. I further understand that the announcement to which the hon. Member refers was not an official announcement in the ordinary sense of the term, but that the Attorney-General of the Province, in the course of a speech, was explaining powers conferred upon the Provincial Government by recent legislation, for conversion, should the opportunity for such a conversion arise, of indebtedness other than inscribed stock issued in the City of London.