§ Mr. WISEasked the Chancellor of the Exchequer if he will state the total amount of conversion from short-termed loans to long-termed loans since 1st April, 1922.; and the amount saved in interest by the conversion?
§ Mr. BALDWIN:About £453 millions (face value) 5 per cent. Exchequer Bonds, 6 per cent. National War Bonds, 5½ per cent.. Treasury Bonds have been converted into 2589 millions 3½ per cent. Conversion Loan. 4½, per cent. Treasury Bonds, and 5 per cent. War Loan, with a consequent interest saving of about £773,000 per annum. In addition $86,060,000 notes and Bonds have been repatriated by conversion into National War Bonds.