§ 23. Mr. Chetwyndasked the Secretary of State for Foreign Affairs whether he will now make a further statement about the progress made in obtaining restitution of looted gold in Portugal in accordance with Part 3 of the Paris Reparations Agreement.
§ Mr. Ernest DaviesThe repeated representations which His Majesty's Government have made to the Portuguese Government since 1947 in conjunction with the French and United States Governments have so far been unavailing. Having regard to the emphasis which the Portguese Government have laid on the juridical aspect of the matter, the French and United States Governments and ourselves have now proposed to them that the dispute should be referred for decision to the International Court of Justice at The Hague, or, if the Portguese Government prefer, to some other form of international arbitration.
§ Mr. ChetwyndCan my hon. Friend say how much gold is involved, and upon what grounds the Portuguese Government are laying claim to it?
§ Mr. DaviesThe gold involved might be as much as £43 million. This is essentially a juridical problem. The Portuguese Government maintain that the gold was received by them in perfectly good faith, and that if they surrender it now they should receive compensation.