§ 14. Sir W. Teelingasked the Chancellor of the Exchequer if Her Majesty's Government will give a guarantee that the servicing of loans of territories about to be handed over to Africans, or already handed over, will be maintained.
§ Mr. BarberNo, Sir. I have no reason to believe that the Governments of territories which will become independent in the future will not keep faith with existing stockholders by observing the conditions upon which stocks were issued, as have other Commonwealth Governments which have attained independence since the war.
§ Sir W. TeelingCertain sums will be paid over the coming years to the newly independent countries. Would it be wrong to hope that the British Government will keep an eye, during all that time, on this matter to make sure at least that these sums will be paid only after whatever guaranteed servicing of loans has been paid?
§ Mr. BarberI am sure that the Ministers principally concerned will take note of what my hon. Friend has said, but I would remind him that there have so far been no defaults by Commonwealth Governments which have attained independence since the war.