United States (British Debt).

Oral Answers to Questions — National Finance. – in the House of Commons on 30th May 1933.

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Photo of Major Abraham Lyons Major Abraham Lyons , Leicester East

49.

asked the Chancellor of the Exchequer if he will make a statement on the American Debt situation before the forthcoming Adjournment?

Mr. CHAMBERLAIN:

I cannot at present say whether I shall be able to make any statement on this matter before the Adjournment.

Photo of Major Abraham Lyons Major Abraham Lyons , Leicester East

Can the right hon. Gentleman say whether there is any truth in the statement so freely published this morning, that a decision upon this matter will be left to a free vote of the House?

Mr. CHAMBERLAIN:

Until I saw the statement in the Press this morning, I had never heard of such a suggestion.

Photo of Major Abraham Lyons Major Abraham Lyons , Leicester East

While thanking the right hon. Gentleman for the information he has given me, may I ask him whether he will allow this matter to be discussed by this House before a decision is made, and, if necessary, take additional time off the Whitsuntide Recess for the purpose?

Photo of Sir Waldron Smithers Sir Waldron Smithers , Chislehurst

Can the right hon. Gentleman say whether it is the policy of His Majesty's Government not to repudiate in any event?

Photo of Mr George Lambert Mr George Lambert , South Molton

51.

asked the Chancellor of the Exchequer the amounts due in sterling to America during the present financial year calculated at the present rate of exchange?

Mr. CHAMBERLAIN:

At the rate of $3.98½ to £1, the amounts are £19,059,000 on 15th June, 1933, and £29,528,000 on 15th December, 1933, or approximately £48,600,000 in all.

Photo of Mr Samuel Hammersley Mr Samuel Hammersley , Stockport

Can the right hon. Gentleman indicate what savings have been made by reason of the decision of the United States Government to accept gold obligations in paper dollars?

Mr. CHAMBERLAIN:

There is always the option of paying in United States Government securities.