§ 55. Lieut.-Colonel Sir Walter Smilesasked the Chancellor of the Exchequer whether, as many countries in Latin-America have built up large reserves of sterling and dollars during the war and are now in a position to meet the full service on their bonds, he will now take steps to bring pressure to bear on defaulting debtors during the present sellers' market for manufactured exports.
§ Mr. DaltonAll appropriate steps will be taken.
§ Sir W. SmilesWould the Chancellor consider transferring some of this debt to the United States, as they have always been much more successful than we have in collecting debts from Latin-America?
§ Mr. DaltonI will think about that suggestion, but I am not sure that it would work.