§ Viscount WOLMERasked the Chancellor of the Exchequer whether he is aware that the Inland Revenue officials refuse to stamp letters of allotment in respect of new issues of capital in cases where no part of the proceeds is to be applied for capital purposes outside the United Kingdom, or to replace money which has been so applied, except upon the production of the original or of a copy of the Treasury licence for the issue in question; and, in view of the fact that such licence is not now required, he will give immediate instructions that this practice is discontinued?
Mr. CHAMBERLAINMy Noble Friend has been misinformed. When it is clear that the undertaking is local to this country, the letters of allotment are stamped without question.