HC Deb 17 February 1926 vol 191 cc1946-7W

asked the Chancellor of the Exchequer whether his attention has been given to the offer of the German Government to convert the 3?; per cent. loan into a new rentenmark loan at the rate of 2½ per cent.; and, if so, what action does the Government propose to take on behalf of British creditors?


Arrangements have been made by the German Government whereby British holders of various mark loans of the German Government and Prussian State, who have held such loans uninterruptedly since before the 1st of July, 1920, may lodge at the Bank of England their claims for the conversion of such holdings into allotments of the "Loan Liquidation Debt" under the German law of the 16th July, 1925, an allotment of 25 Reichs marks of the new debt being allowed in respect of each 1,000 marks of the old loans held. I would refer the hon. Member to the notice on the matter which was published in the British Press on the 30th of October last.