§ 32. Mr. Stokes
asked the Chancellor of the Exchequer whether, in view of the fact that we pay 3 per cent. on £90,819,000 borrowed from the United States of America for war purposes, he proposes to invite the United States of America to borrow a similar amount from us at 3 per cent. to pay for a portion of supplies and services now rendered by us to the United States of America under Lend-Lease or to make other- suitable arrangement to the same effect?
§ Sir K. Wood
No, Sir. This would not be in accordance with the Reciprocal Aid Agreement of 3rd September, 1942 (Cmd. 6389).
§ Mr. Stokes
In view of the fact that probably most of the £90,000,000 mentioned was bogus bank-manufactured money, would it not be at least a gracious thing for the Government of the United States to suspend payment of interest for the duration of the war?