§ Mr. VIANTasked the First Lord of the Admiralty whether foreign banks in Shanghai have recently shipped bullion to Tientsin in British destroyers; and whether this action was taken with the approval of His Majesty's Government?
Mr. LOCKER-LAMPSONIn the early part of this month the Nanking authorities issued instructions that no movement of treasure was to be effected without a permit issued by their Ministry of Finance. Two British banks at Shanghai were, on the 11th and 12th July respectively, refused permits to ship silver bullion to Tientsin on the ground of the embargo. The free importation and exportation of silver bullion is provided for in the treaties; the illegal prohibition of exportation to Tientsin involved the danger of a serious financial crisis at that port with disastrous results to British interests. His Majesty's Minister accordingly consulted with the
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— Exchequer Issues. Per head of population. 1913–14. 1926–27. 1913–14. 1926–27. £ £ £ s. d. £ s. d. National Debt Services 24,500,000 378,584,000 0 10 9 8 7 5 Other Consolidated Fund Services 12,823,000 40,181,000 0 5 7 0 17 9 Army, including Ordnance Factories. 28,346,000 43,600,000 0 12 5 0 19 3 Navy 48,833,000 57,600,000 1 1 4 1 5 6 Air Force — 15,530,000 — 0 6 11 Civil Estimates 53,901,000 240,486,000 1 3 7 5 6 4 Customs and Excise and Inland Revenue. 4,483,000 11,514,000 0 2 0 0 5 1 Post Office Services 24,607,000 54,900,000 0 10 9 1 4 3 197,493,000 842,395,000 4 6 5 18 12 6 Commander-in-Chief, who issued instructions for the transport of the silver by His Majesty's ships. His Majesty's Minister reports that Taels 3,000,000 was accordingly shipped from Shanghai for Wei-hai-wei in the destroyer flotilla for the two banks on the 20th July, and that at the same time, at the request of the Japanese Minister, Taels 500,000 was shipped for the Yokohama Specie Bank.