§ Mr. BOTTOMLEYasked the Chancellor of the Exchequer whether he is aware that. France has recently made an issue of 6 per cent, tax-free loan; and whether he will consider the propriety of making a similar issue giving the holders of the 5 per cent. War Loan 1929–47 the right to convert into the stock on condition that they subscribed for a similar amount in the new loan?
Mr. CHAMBERLAINThe answer to the first part of the question is in the affirmative and to the second in the negative.