§ 22. Sir PERCY HURDasked the Secretary of State for the Colonies whether the Government will appoint a committee 891 representative of the Colonial and British treasuries, the Crown agents, and banking and financial experts to consider means of easing the burden on Colonial exchequers by using the present era of cheap money to create a new Imperial loan stock to replace existing Colonial loans with due regard to the rights of present stock holders?
Mr. THOMASThe possibility of converting outstanding Colonial loans is under constant review, and, where an option exists or is about to mature, advantage is taken of the opportunity to convert or repay the loan. I do not think the appointment of a committee such as is suggested would serve any useful purpose, since no option at present exists in respect of any outstanding loan of which advantage to convert or repay has not been taken.