HC Deb 26 May 1936 vol 312 cc1825-6
48. Mr. VIANT

asked the Chancellor of the Exchequer whether he has given further consideration to the report of the Bank for International Settlements at Basle; is he satisfied with the reasons advanced for there being a reduction of £1,000,000 only in the total British credits, used and unused; and whether any specific creditor or creditors have increased their credits to Germany during the past 12 months?

The CHANCELLOR of the EXCHEQUER (Mr. Chamberlain)

In reply to the first two parts of the question, I am of opinion that the statement published on Tuesday last by the Committee of British Short-term Creditors satisfactorily disposes of this matter. As regards the last part of the question, the statement points out that no new or increased credit can be granted by any creditor under the Standstill Agreement.

Mr. DALTON

Will the right hon. Gentleman answer the question as, I think, my hon. Friend who put it down rather intended that it should be read, and that is with the latter part of the question not limited to the Standstill Agreement? The latter part asks whether any specific creditor or creditors have increased their credits to Germany in the past 12 months, that is inside or outside the Standstill Agreement?

Mr. CHAMBERLAIN

I understood the hon. Member's question to refer to credits under the Standstill Agreement. If he refers to other financial credits as well, I have no knowledge of any specific instances of the kind.

Mr. DALTON

In view of the very persistent statements that are made in the City of London, cannot the right hon. Gentleman take steps to inquire into the transactions of certain firms who are persistently mentioned—Messrs. Schroeder, for instance?

Mr. CHAMBERLAIN

I have no power to make such an investigation.

Mr. DALTON

Will the Chancellor take such powers, in order that we may not sit idly by and let funds go out for the armament of Germany?