HC Deb 14 December 1937 vol 330 cc981-2
48. Mr. A. Henderson

asked the Chancellor of the Exchequer whether he will given an assurance that it is the intention of His Majesty's Government to refuse to permit the raising of loans in this country by any country or its nationals committing an act of aggression against a member of the League of Nations; and whether such embargo will apply to Japan?

Sir J. Simon

So far as I am aware, no question arises at the present time of the issue of loans in this country by any foreign Government which could be regarded as covered by the terms of the hon. Member's question, or by its nationals, and accordingly the question of permitting such loans does not arise.

Mr. Henderson

In the event of any application being received from Japan, will His Majesty's Government bear in mind the undesirability of allowing Japan to finance her war in China by advances from this country?

Sir J. Simon

On the general policy, if the hon. Member will refer to the statement made by the then Prime Minister on 23rd June, 1936, he will see what principle governs the attitude of the Government.

Mr. De la Bère

Does not the foreign lending system of this country require drastic overhauling?

Mr. Thorne

Will this country and America work together on this question?