HC Deb 05 March 1923 vol 161 cc68-9W

asked the Chancellor of the Exchequer if, in view of the fact that France and Italy, which are each, guarantors of 24½ per cent. of the Austrian loan, are not even meeting their own foreign debts, and that the loan has been floated at a high issue rate, the will take steps to ensure that any similar future loans may he put through with a League of Nations guarantee?

Captain KING:

No, Sir. The League of Nations have no funds or revenues from which they could guarantee loans.