HC Deb 19 December 1962 vol 669 cc1247-8
6. Dr. Alan Glyn

asked the Lord Privy Seal whether he is aware that a number of British holders of Japanese Government internal yen bands were unable to collect interest accruing during hostilities until signature of the Peace Treaty and thereby compelled to accept payment in post-war inflated currency; and if he will make representations to the Japanese Government about this matter.

Mr. Godber

0: Her Majesty's Government are aware of this, but it is 10 years since the Peace Treaty was signed. The holding of foreign bands is always subject to certain risks, and there is no legal basis on which Her Majesty's Government could usefully raise this with the Japanese Government.

Dr. Glyn

Is my hon. Friend aware that a large number of people think that no country should profit out of a war with this country and, secondly, that at this time when the Anglo-Japanese commercial treaty is being negotiated this is the sort of treatment of a minority of British holders which should not be neglected and the Japanese Government should be made to realise that their obligations should be met in full to all British holders?

Mr. Godber

I understand and sympathise with my hon. Friend's point of view on this matter, but I would say to him that the commercial treaty is solely concerned with commerce and navigation and really has no bearing on this matter. I have explained the difficulties in regard to this particular matter, and I do not think there is any further useful action which Her Majesty's Government can take.

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