United States (British Debt).

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

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Photo of Commander Hon. Joseph Kenworthy Commander Hon. Joseph Kenworthy , Kingston upon Hull Central

34.

asked the Prime Minister what progress had been made with the proposals for funding the British debt to the United States of America; and on what terms was it proposed to carry out this funding operation?

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

In response to their request, the United States Government have been officially informed that a special delegation will arrive in Washington early in September to make funding arrangements with the Special Commission set up by the United States Government under Act of Congress for dealing with the debts owed to the United States Government in respect of War advances. Pending the completion of these negotiations, it is not possible to make any further statement.

Photo of Commander Hon. Joseph Kenworthy Commander Hon. Joseph Kenworthy , Kingston upon Hull Central

When those negotiations are completed, as I hope satisfactorily, will it be necessary to come to this House for any powers, or will this House be informed of any process adopted?

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

Of course, this House will be informed of any recommendations and arrangements made. Whether it will be necessary to have any legislation depends entirely on the character of the arrangements.

Mr. L. MALONE:

Are we, in the meantime, delaying the shipment of gold which was arranged last week?