§ 52. Mr. BURNETTasked the Chancellor of the Exchequer whether he is aware that many pre-war foreign loans issued in London are not receiving full contract service; that the defaults are evidence that the market was unable to assess correctly the credit of foreign countries and institutions whose obligations the market floated on British investors; and will he, preparatory to any future consideration of the removal of the embargo upon the issue of foreign loans, arrange for the Government's economic advisers to draw up and publish for the protection of British savings a list of foreign borrowers who over-borrowed before the War and are now in default upon their pre-war obligations issued by the loan market in London?
Mr. CHAMBERLAINI would refer my hon. Friend to the reply given to the hon. Member for North Newcastle-on-Tyne (Sir N. Grattan-Doyle) on the 4th February.