§ Mr. T. JOHNSTONasked the Chancellor of the Exchequer the date of each loan borrowed by the Government since August, 1914: the amount of cash received in each such loan; the amount of money the Government will require to pay in redemption of each such loan; the cost-of-living index figure at the time each such loan was negotiated; the rate of interest advertised for each such loan; and what subsequent alteration of the interest rates were made through conversion into later loans at a higher rate of interest?
§ Mr. BALDWINIn view of the numerous conversions from one loan to another since 1914, it is not possible to give this information, even partially, without a wholly disproportionate expenditure of time and money. In general, the results of conversions since the Armistice have been substantially to reduce the interest charge to the taxpayer.