§ Captain P. MACDONALDasked the Secretary of State for the Colonies whether, in view of the high rate of interest now being paid on various Colonial loans, he will consider the desirability of placing on the market a conversion loan which will embrace all these issues at a lower rate of interest?
§ Sir P. CUNLIFFE-LISTERColonial loans represent the obligations of a variety of different Governments and are subject to widely different terms of issue; they could not be replaced under any conversion scheme by a single issue. My hon. and gallant Friend may rest assured, however, that advantage will be taken of any opportunities that may present themselves to effect such reduction as is possible in the interest payments falling upon Colonial Governments