Allied Debts.

Oral Answers to Questions — Government Departments. – in the House of Commons on 17th July 1922.

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Photo of Colonel Josiah Wedgwood Colonel Josiah Wedgwood , Newcastle-under-Lyme


asked the Prime Minister whether his attention has been called to proposals suggesting that Great Britain, while paying her debt to America, should accept, in lieu of her debts from France, Italy, and Belgium, German C bonds which would then be destroyed; whether this solution has received any encouragement from His Majesty's Government; and will he see that we are not committed to any such one-sided cancellation of debt, unaccompanied by a territorial or other quid pro quo, without the consent of this House being first obtained?

Photo of Mr David Lloyd George Mr David Lloyd George , Caernarvon District of Boroughs

My attention has been called to this plan, which is not a new one, but has recently received special publicity. It has, as the hon. and gallant Member recognises, the disadvantage of placing this country, which is on balance a large creditor in respect of War advances and reparation, in the position of paying in full all that it borrowed from other countries during the War, while collecting nothing, either in respect of its War advances or in respect of reparation.

Photo of Colonel Josiah Wedgwood Colonel Josiah Wedgwood , Newcastle-under-Lyme

May we take it from that, that these articles that are appearing in the "Times" are inspired, not from this country, but from somewhere else?