HC Deb 21 June 1944 vol 401 cc206-7W
Sir L. Lyle

asked the Secretary of State for Foreign Affairs what representations within the last two years have been made to the Brazilian Government for the protection of menaced British financial investments in that country, especially having regard to the prosperity in Brazil.

Mr. Eden

I am not certain of the type of investment to which my hon. Friend refers. The external sterling obligations of Brazil were, as my hon. Friend will be aware, recently the subject of debt negotiations initiated by the Brazilian Government: Apart from this His Majesty's Embassy have taken up with the Brazilian Government a large number of cases of individual investors. Among the more important negotiations arising from such cases are those for the release of the expropriated assets of the Sorocabana Railway Company and the Southern Sao Paulo Railway Company which I am glad to say are progressing satisfactorily. Negotiations regarding the Brazil Land, Packing and Cattle Company are continuing. Much concern, however, has been caused to His Majesty's Government by two cases before the Brazilian courts in which application has been made of the so-called gold clause decree of 1933 in order to have recourse to the repayment in local currency of certain loans raised in sterling. This question is having the urgent consideration of His Majesty's Government.