§ 37. Mr. WILMOTasked the Chancellor of the Exchequer what steps he proposes to take with a view to securing payment of interest to British holders of German bonds and shares in German companies and the payment in full to British holders of the proceeds of the sale of such securities when sold in Germany?
Mr. CHAMBERLAINThe payment of interest to British holders of German bonds is dealt with in Article 7 of the Anglo-German Payments Agreement of 1st November, 1934 (Command Paper 4726) to which I would refer the hon. Member. I do not think that any fresh steps in regard to these matters could usefully be taken at the present time.
§ Mr. WILMOTIs the right hon. Gentleman aware that small investors are very perturbed at the continued German default and the difficulty of obtaining a realisation of their assets; and cannot he use the same sort of methods with regard to German default as he has applied elsewhere?
Mr. CHAMBERLAINI think the arrangement that has been made with Germany is working as satisfactorily as can be expected.
§ Mr. WILMOTIs the right hon. Gentleman aware that the arrangement is entirely in favour of the holders of Dawes and Young Loans, which are very largely in the hands of the banks?