Oral Answers to Questions — China (Loans).

– in the House of Commons on 9th March 1922.

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Mr. L. MALONE:

59.

asked the Under-Secretary of State for Foreign Affairs whether he is aware that many important British firms have in the past offered loans to China at terms more favourable to China than those offered by the Consortium, and that these offers did not receive the support of His Majesty's Government, and did not, therefore, mature; whether, seeing that the Consortium Agreement gives seven British banks a monopoly for the exploitation of China, to the detri- ment of both China and the rest of the financial world in England, he will consult the other nations concerned in the Consortium with a view to bringing its policy more into line with the spirit of the Washington open-door resolutions?

Mr. HARMSWORTH:

His Majesty's Government are not aware that the facts are as suggested in the question, and they do not propose to take any action in the sense indicated.