§ Sir H. NIELDasked the Lord Privy Seal the present position of the adjustment of claims of British traders and other subjects against Germany and those 1559W of Germans against us, respectively; does the Peace Treaty provide for the mutual payment of interest upon such claims; if not, upon what ground does the Government justify the exaction of interest from British traders if the obligation is not reciprocal; is it proposed to charge the fund payable to Germany with any costs of collection and administration; and will provision be made for equality of treatment in this respect?
§ Mr. BRIDGEMANI have been asked to reply. The claims of British traders are in course of adjustment through the British Clearing Office, which has been in operation since the ratification of the Peace Treaty, and local clearing offices are in process of establishment for dealing with claims by and against British nationals in every part of the British Empire. The German Clearing Office has not yet been opened, but is, it is understood, being organised on the lines of the British Office. The answer to the second part of the question is in the affirmative. The costs of administration will be met by a small percentage levy on payments made by the Clearing Office, in accordance with the provisions of the Treaty.
§ Sir H. MACKINDERasked the President of the Board of Trade whether arrangements can be made by which London branches of banking and other companies registered in the Union of South Africa can settle the claims and debts of their English branches, under the Peace Treaty, through the Clearing House in London instead of through the Government of the Union, and so save much cost and time?
§ Mr. BRIDGEMANAs the Union of South Africa has not adopted the Clearing Office scheme it is doubtful whether the course suggested by the hon. Member can be adopted, but the question shall be considered.