§ 50. Mr. Osborneasked the Chancellor of the Exchequer on what basis the half yearly repayment of capital and interest on the United States loan was calculated; and how far it was calculated on the same dollar-sterling basis as when the loan was made.
§ Mr. Boyd-CarpenterThe amounts paid in service of U.S. loans have been calculated in accordance with the relevant agreements, of which the principal are Cmd. 6708, Cmd. 7881 and Cmd. 8053. Our obligations under these agreements are expressed and payable in dollars and the rate of exchange does not affect the dollar amount of these obligations.