§ Mr. E. HARMSWORTHasked the Chancellor of the Exchequer the length of term of the loan of £2,000,000 recently 582W advanced by this country to Austria; and when Austria will pay back the first instalment?
§ Sir R. HORNEThe advance is for a period of one year, renewable for a further period of one year, and is repayable out of the proceeds of the loan or loans which Austria will, it is hoped, be able to raise in the markets of the world on her own security as soon as the liens on her assets now held by various Governments in respect of reparation and relief loans are released.
§ Mr. E. HARMSWORTHasked the Chancellor of the Exchequer what are the securities for the £12,000,000 loaned by this country to Austria since the Armistice?
§ Sir R. HORNEThe British Government, in common with other allied and associated Governments and certain neutral Governments, has at present a lien on the whole of Austria's assets in respect of Austria's debt for reparation and relief loans in our case amounting to £10,000,000. It is hoped that at an early date the negotiations for releasing these liens and postponing these claims will be completed, so that Austria may be in a position to raise on her own security in the markets of the world the foreign credits which she requires in order to carry through the reform of her finances on which she has embarked. The British Government nearly a year ago expressed its readiness to release these liens provided all other Powers concerned released their liens. In the case of the last advance of £2,000,000 the Austrian Government has agreed to give certain Government tapestries as security.