HC Deb 13 December 1937 vol 330 c790
8. Sir John Mellor

asked the Secretary of State for Foreign Affairs, when the British Government last made representations to the Russian Government with regard to the default on the service of Russian Government bonds and guaranteed securities held by British subjects; and whether further action is contemplated?

Mr. Eden

The last suitable opportunity for official representations was during the negotiation of the temporary Commercial Agreement of February, 1934. It is, unfortunately, not possible to say at present when further negotiations for this purpose can be usefully undertaken.

Sir J. Mellor

Will the right hon. Gentleman consider setting up a clearing office for the benefit of British creditors in view of the fact that the balance of trade between Russia and the United Kingdom is heavily in favour of Russia?

Mr. Eden

That is rather another question. I am aware of the unsatisfactory nature of this situation but it is a matter of finding an occasion to rectify it.

Mr. Gallacher

Is it not the case that these are Tsarist Government bonds?