HC Deb 09 May 1951 vol 487 cc1943-4
30. Lieut.-Colonel Sir Thomas Moore

asked the Secretary of State for Foreign Affairs what proposals he has in mind to safeguard the rights of British holders of Japanese bonds in regard to the forthcoming peace treaty with Japan.

Mr. H. Morrison

I can assure the hon. and gallant Member that His Majesty's Government have the whole question of Japan's pre-war debts and her obligations in respect of her sterling loans very much in mind. I am, however, not yet able to state what proposals we have made in this matter.

Sir T. Moore

Will the right hon. Gentleman bear in mind that many of these Japanese bondholders are people in modest circumstances, who have been seriously harassed by the absolute lack of interest for so many years past?

Mr. Morrison

Yes, Sir, I will keep that point in mind.

Mr. Emrys Hughes

Can the right hon. Gentleman say if the money invested in Japanese bonds was used to finance companies producing strategic materials which were used against us in the last war? In view of the indignation on the part of the Opposition recently about strategic raw materials, will he undertake to cancel these things?

Mr. Teeling

Following what has just been said by the hon. Member for South Ayrshire (Mr. Emrys Hughes), will the right hon. Gentleman bear in mind that a large proportion of these Japanese bonds were raised to help after the Tokyo earthquake?

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