§ 69. Mr. Wootton-Daviesasked the Chancellor of the Exchequer whether his attention has been called to the recent action of the State of San Paulo, Brazil, in permitting the Coffee Institute to buy its own bonds in London and elsewhere at a time when it was stated that a shortage of exchange precluded the payment of more than a negligible proportion of interest on these bonds; and whether he will consider introducing machinery to impose control on issuing houses in this country who are responsible for inducing British subjects to invest in loans of this kind.
§ Sir J. AndersonThe answer to the first part of the Question is in the affirmative. While I agree that the action of the State of San Paulo is open to strong objection, I do not agree that it would be reasonable to criticise the issuing houses which issued the Loan in question in 1926.