§ 79. Mr. CROWDERasked the Chancellor of the Exchequer whether he can make any further statement as to the continued operation of the system of frozen credits in Germany; and whether, for the sake of British creditors, he will make further representations to the German Government to abandon what is practically a system of national default?
§ Lieut.-Colonel COLVILLEThe frozen trade debts from Germany to this country which existed in 1934 have been liquidated in accordance with the provisions of the Anglo-German Payments Agreement of 1st November, 1934. Interest is being paid in full to United Kingdom creditors in respect of the Dawes and Young Loans. The other German long-term loans, as also the short-term credits, are being dealt with in accordance with agreements reached between the German authorities and the representatives of the United Kingdom creditors concerned. His Majesty's Government are, of course, continuing to watch the position in the interests of the United Kingdom creditors; but I do not consider that at the present moment it would be desirable for His Majesty's Government to make representations to the German Government upon these matters.