§ 73. Sir Nicholas Grattan-Doyleasked the Chancellor of the Exchequer whether he is aware that it will be useless to reconsider revising the embargo on the issue of foreign loans, in the expectation that British investors will again lend their savings abroad for the benefit of British export trade, while the present treatment of their savings invested in Argentine and Brazilian railways is allowed to continue without vigorous protest by His Majesty's Government; and will he now take immediate steps in defence of these British investments?
§ The Chancellor of the Exchequer (Sir John Simon)I am aware that, while the general position of investors in Argentine and Brazilian railway securities has 3310 recently shown a welcome improvement, the position as regards a number of such securities remains unsatisfactory to the holder. In the event of difficulties arising which cannot be settled by direct discussion between the British companies and the foreign authorities concerned, His Majesty's Government would be ready to consider any request for support made by such companies. Apart form this, I do not think that there are any steps which His Majesty's Government can usefully take at the Present time.