§ 12. Sir Nicholas Grattan-Doyleasked the Secretary of State for Foreign Affairs whether he is aware that the permission of the Argentine Government to the Anglo-Argentine railways on 20th December to increase their rates has been stated to produce £312,000 for the coming year, upon a capital of £270 millions; and, in view of the fact that this increase is insufficient, will he obtain from the Argentine Government an official statement as to the estimated extent the proposed increased tariffs will benefit the railway revenues?
§ Sir J. SimonI assume that my hon. Friend bases his question on a report which appeared in the Press last December that the Argentine Government were about to issue a decree permitting the increase in railway tariffs which he describes. My information does not indicate that any such decree has, in fact, been issued. His Majesty's Ambassador at Buenos Aires has been requested to throw any light he can on the origin of the above mentioned report.
77. Mr. De la Bèreasked the Chancellor of the Exchequer whether, in view of the inability of the directors of the Anglo-Argentine railways to obtain redress from the Argentine Government, notwithstanding their prolonged efforts, he will request the Council of Foreign Bondholders to take up with the Argentine Government the ill-treatment of the £270,000,000 of British savings invested in the Argentine railways, and in respect of which His Majesty's Treasury is concerned in relation to Income and Surtax and Death Duties?
§ The Financial Secretary to the Treasury (Lieut.-Colonel Colville)My right hon. Friend thinks that the preferable course is that difficulties between the Argentine authorities and British railway companies operating in the Argentine should continue to be discussed between the British companies and the authorities concerned. His Majesty's Government are always ready to consider any request for support made by such companies. In so far as the question implies that the Argentine Government's attitude to such companies is one of hostility or that the directors of the British companies have failed to represent adequately the interests of the British capital invested therein, my right hon. Friend does not agree that such implications correctly represent the facts.