25. Colonel Sandeman Allenasked the President of the Board of Trade why the Anglo-Spanish Clearing Office is holding up funds amounting to between £1,500,000 and £2,000,000 sterling due to creditors in the United Kingdom; and when this money is likely to be distributed to the creditors entitled to receive it who are suffering serious difficulties and hardships through lack of capital represented by such funds?
Mr. StanleyThe distribution of the funds held by the Anglo-Spanish Clearing Office is suspended in consequence of difficulties which have arisen as the result of the civil war in Spain. I fully realise the desirability from the creditors' point of view of distributing this money at an early date, but I cannot at present say when it will be possible to do so.
Colonel Sandeman AllenIs my right hon. Friend aware that chambers of commerce, who are fully aware of the difficulties that he has pointed out, have expressed their firm opinion that such difficulties can easily be overcome, and should be overcome swiftly?
Mr. StanleyI will certainly see if there is anything that can be done to hurry up this matter. I realise the difficulty of those who are owed money under this Agreement.
§ Mr. PetherickCan my right hon. Friend offer any valid reason to the House why the exporters of goods to Spain, enjoying the protection of the Anglo-Spanish Clearing Office, should fail to receive their money even temporarily during a civil war in Spain for which they have no responsibility whatever?