Uruguay (British Invest-Ments).

Oral Answers to Questions — League of Nations. – in the House of Commons on 20th February 1922.

Alert me about debates like this

Photo of Sir Henry Betterton Sir Henry Betterton , Rushcliffe

69.

asked the Under-Secretary of State for Foreign Affairs if his attention has been called to the action of the municipality of Montevideo in forcibly taking and disbursing the funds of a British-owned tramway system in Montevideo; if any protest has been made by the British Government against this arbitrary appropriation; and what is the loss, direct and indirect, in which it involves the British holders of Uruguayan securities owing to the consequent depreciation of Uruguayan credit in the market of Europe?

Mr. HARMSWORTH:

The answer to the two first parts of the question is in the affirmative. Any general weakening of Uruguayan credit in Europe would cause serious losses to British investors, but I trust that the matters now at issue may be satisfactorily settled and the contingency to which the hon. Member refers avoided.

Photo of Mr Arthur Samuel Mr Arthur Samuel , Farnham

Can the hon. Gentleman say what steps the Foreign Office is taking to protect British interests there?

Mr. HARMSWORTH:

We are taking every step that can be taken.