§ 40. Mr. GARRO-JONESasked the Chancellor of the Exchequer whether, having regard to the dangers of unsound international finance, as shown by the crisis of 1931, he can undertake to acquaint himself of the proportions of short-term borrowing and long-term lending between banking and finance houses in the City of London and corresponding foreign organisations; and whether he will assure the House that the Government wit see that a safe balance between these transactions is maintained?
§ Mr. W. S. MORRISONAs stated in the reply given to my right hon. Friend the Member for Ripon (Major Hills) on 7th April, my right hon. Friend has appointed 153 an advisory committee to advise him upon the scope of the restriction on foreign issues. The consideration to which the hon. Member refers will be carefully watched.
§ Mr. GARRO-JONESMay I ask whether the regulations restricting foreign issues are equally applicable to foreign lendings?
§ Mr. MORRISONThe committee to which I have referred will deal with the whole question of foreign issues and foreign lendings.