THE HOUSE OF COMMONS.

Press, Volume LXVII, Issue 20168, 21 February 1931, Page 15

THE HOUSE OF COMMONS.

FRANCE'S DEBT TO BRITAIN 62 PER CENT. REMITTED. (BRITISH OFFICIAL WIRELESS.) (Received February 20th, 5.5 p.m.) RUGBY, February 19. The Chancellor of the Exchequer, Mr Philip Snowden, replying to » question in the House of Commons, said the net war debt of France to Great Britain in 1926, on tlio date of the signature /of the" funding agreement, was £600,000,000; The values at the same date of the annuities payable, calculated at 5 per cent., was £227,000,000,' On that basis 62 per cent, of the debt was remitted. Reference to this* had already been made to France, Mr Snowden continued, in connexion with the claims of English holders of French bonds. Mr Snowden further said that be doubted the practicability of higher taxation on incomes from foreign investments other than in Britain, the Dominions,, or the Colonies. China Indemnity Bill. A pica for the' uso of Australian hardwood sleepers in China was heard during the discussion of the China Indemnity Application Bill, Mr Leslie Boyce (Conservative) moved an amendment for the purpose of widening tho objects to which the £.4,000,000 might be applied by the board of trustees. The China Bill provided that the money should be spent on the purchas'e of railway material in tlio United Kingdom. Mr Boyce said that never before in the history of the Commonwealth had she been in such need of orders from overseas. If the Government accepted the amendment all- interested in the we?" fare of Australia and this promising trado would be extremely gratcfuL Mr P. J, H. Hannon (Conservative), seconding the amendment, said it would be a gesture of genuine friendship to Australia if it. were accepted. Mr H. Dalton (Labour) replied that the Government would be very glad to do what it could both for Australia and the other Dominions interested in the China trade. The amendment was agreed to. The Minister for Agriculture, Mr Christopher Addison, told 'Mr P. J. Pybus (Liberal) that cattle, from Ireland were graded and then given a home-killed infirlt. Mr Pybus: In these circumstances should not Australia and New Zealand meat be entitled to be marked English! : Mr Addison: But the Irish cattle are imported alive and slaughtered here. Answering another question, he said the total subsidy on home-grown beet sugar s since February 16th, 1930, amounted to £22,157,727.