Oral Answers to Questions — French Debt to Spain.

– in the House of Commons am ar 12 Mai 1924.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Mr Fredric Wise Mr Fredric Wise , Ilford

21.

asked the Prime Minister if France has paid the whole of her War debt to Spain; and, if so, what was the amount?

Photo of Mr William Graham Mr William Graham , Edinburgh Central

I assume that the hon. Member refers to the loan of 455 million pesetas advanced by a consortium of Spanish bankers to the French Government by instalments during the period March, 1918, to March, 1919. I understand that these advances have been repaid.

Photo of Mr Fredric Wise Mr Fredric Wise , Ilford

Will the hon. Gentleman say when these were repaid?

Photo of Mr William Graham Mr William Graham , Edinburgh Central

It is a little difficult, but I understand that the last of them were repaid in December last.

Photo of Lieut-Colonel Wilfrid Ashley Lieut-Colonel Wilfrid Ashley , New Forest and Christchurch

What is the hon. Gentleman doing about the debt due to us from France?

Photo of Mr William Graham Mr William Graham , Edinburgh Central

The question hardly bears on this, because strictly speaking this was a loan by bankers, no doubt in the form of Government support to other bankers. The hon. and gallant Gentleman raises a much larger issue which I must not now discuss.

Photo of Lieut-Colonel Wilfrid Ashley Lieut-Colonel Wilfrid Ashley , New Forest and Christchurch

Was not this loan made by private individuals or by the Government?

Photo of Mr William Graham Mr William Graham , Edinburgh Central

No, it was made to French bankers, but there does not seem to be any doubt that it was in large measure a Government arrangement.

Photo of Lieut-Colonel Hon. Cuthbert James Lieut-Colonel Hon. Cuthbert James , Bromley

Is there any difference between bankers and citizens?