§ Lieut. - Commander KENWORTHYasked the President of the Board of Trade whether His Majesty's Government have considered the insistence of some conditions with regard to the lowering of tariff walls to British goods by Governments who float loans on the British market; and whether, in the case of the loan floated recently for the Kingdom of Hungary, any attempt was made to Influence the Hungarian Government in this direction?
Mr. GRAHAMI have been asked to reply. It is not in the power of His Majesty's Government to dictate to lenders in the open market the terms on which they should make loans to would-be borrowers. As regards the second part of the question, the hon. and gallant Member must not overlook the express undertaking in Protocol No. 1, signed at Geneva on the 14th March, 1924, by the States acting together for Hungarian reconstruction, that they would not seek to obtain any special or exclusive economical or financial advantage from Hungary inconsistent with her political independence. The Hungarian Report of the Finance Committee of the League of Nations emphasised, however, the importance of avoiding undue tariff restrictions; and I certainly hope that with the new prospects now opening for Hungary, the question will receive the attention of the Hungarian Government.