§ 70. Sir C. Osborneasked the Chancellor of the Exchequer in view of the fact that the £1,909,413,672 of 3½ per cent. War Loan has touched the lowest ever price of 46¼ per cent., and that since the purchasing power of money has fallen to one-third its pre-war value, every holder of £100 War Loan stock has lost 84 per cent. of his real savings, what action he will take to prevent the value 198W of this premier Government stock from falling further.
§ Mr. TaverneThe market value of War Loan like other undated Government securities, reflects the general level of interest rates. World interest rates are at an historically high level; although we arc anxious to see our own rates come down we cannot move out of step with rates in other countries.