§ Sir H. BRITTAINasked the Chancellor of the Exchequer what principles govern the use of the embargo upon the issue of foreign loans on the London market; and what measures are taken to enforce it?
§ Mr. CHURCHILLThe placing of foreign loans in London is a matter for the judgment of the market which applies its own tests having regard both to the standing of the borrower and to general credit conditions in this country. It is only in very exceptional circumstances that the Government would depart from what must be regarded as a salutary practice of non-intervention, and then only by the expression of an opinion upon the public interests involved.