§ 49. Mr. LIDDALLasked the Chancellor of the Exchequer whether he is aware that, after taking re-exports into account, Germany has a sterling credit balance on Anglo-German transactions now that the £3,000,000 per annum for the arrears of commercial debts are released; and will he denounce the payments agreement and by an exchange clearing secure full debt service on the defaulted German loans floated in London, to which holders are entitled by the terms of the German contracts?
§ The CHANCELLOR of the EXCHEQUER (Mr. Chamberlain)I would refer my hon. Friend to the reply I gave to my, hon. Friend the Member for Newcastle-on-Tyne, North (Mr. Grattan-Doyle) on 7th July. As I then stated, I do not consider that the Government could usefully take any further steps in this matter at the present time.
§ Mr. LIDDALLWhat, if any, steps are being taken by my right hon. Friend to find out the truth of this matter?
§ Mr. CHAMBERLAINI think I have already found out the truth.
§ Mr. LIDDALLMind they do not rook us.
§ 52. Sir N. GRATTAN-DOYLEasked the Chancellor of the Exchequer whether in view of the fact that the Treasury received the proceeds of the British issue of the German International 1930 (Young) Loan, and that the German Government has ceased redemption by a sterling sinking fund and contrary to the terms upon which British investors subscribed to the loan, he will now request the German Government to redeem by means of the sterling sinking fund?
§ Mr. CHAMBERLAINI would refer my hon. Friend to the reply which I gave to him on Tuesday last, to which at present I have nothing to add.