Lieut.-Colonel SANDEMAN ALLENasked the Secretary of State for Foreign Affairs whether, in view of the interests of small investors being undefended by the Council of Foreign Bondholders and those bond-selling firms who originally issued the bonds here, he will now appoint some financial representative of the British Government to watch the interests of British bondholders of the defaulted obligations of the Brazilian, Mexican, and Chilean Governments and of the municipality of Buenos Aires?
558W
§ Mr. EDENI would refer my hon. and gallant Friend to the terms of the reply given on 21st March to my hon. Friend the Member for the City of Chester (Sir C. Cayzer) which are equally applicable in the instances to which he refers. His Majesty's Government are satisfied that the Council of Foreign Bondholders, with the assistance of His Majesty's representatives in the countries concerned, are taking every practicable step in the interests of British investors generally; nor have they any reason to believe that the Council of Foreign Bondholders makes any distinction between the interests of holders of large or small investments. My hon. and gallant Friend is misinformed in his reference to the municipality of Buenos Aires, as I understand that the City of Buenos Aires Five Per Cent. Loan of 1913–1914, the only loan of this nature quoted in London, is not in default.