Stock Exchange Restrictions.

Oral Answers to Questions — Trade and Commerce. – in the House of Commons at on 7 February 1933.

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Photo of Mr Henry White Mr Henry White , Birkenhead East

46.

asked the Chancellor of the Exchequer if he has taken any decision with regard to the removal of the embargo on the issues of fresh capital for the conversion of existing issues?

Photo of Mr Neville Chamberlain Mr Neville Chamberlain , Birmingham, Edgbaston

The restriction on conversion issues was completely withdrawn on the 14th January so far as ordinary business transactions are concerned. It is still necessary to retain it for the present in the special case of optional conversion issues which rank as Trustee Securities and involve either underwriting or an invitation to the public to subscribe new cash.

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

May I ask whether the Chancellor of the Exchequer realises the serious effect which his embargo has upon our export trade and whether he is still attempting to force up the price of sterling, which has already risen to a high figure?

Photo of Mr Neville Chamberlain Mr Neville Chamberlain , Birmingham, Edgbaston

I presume the right hon. and gallant Gentleman refers to the embargo mentioned in the question? If so, then I am not aware of it.

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

I am referring to the embargo on foreign loans. Is that at an end?

Photo of Mr Neville Chamberlain Mr Neville Chamberlain , Birmingham, Edgbaston

That is not mentioned in the question.