§ Mr. JOYNSON-HICKSasked the President of the Board of Trade whether he has made any order under the Trading With the Enemy (Amendment) Act, 1916, requiring the business of the German banks in London to be wound up; and, if not, will he say why this has not been done?
§ Mr. PRETYMANNo order has been made under the Trading With the Enemy (Amendment) Act, 1916, with regard to the businesses of the German banks in London, because under the licences granted shortly after the outbreak of war due provision is made for the control by the Treasury of any transactions of these banks, and for the limitation of the business to completing transactions entered into before the War, so far as necessary for making the assets available for meeting liabilities, any surplus being deposited with the Bank of England to the order of the Treasury.