LOST MILLIONS
BRAZIL’S REPUDIATION OF DEBTS ACTION URGED IN HOUSE OF COMMONS HIGH DUTIES NOT FAVOURED BY CHANCELLOR RUGBY, June 16. Sir Joseph Leech asked the Chancellor of the Exchequer, Sir John Simon, in the House of Commons today, whether, nothwithstanding the temporary loss to all concerned, he would impose prohibitive duties on the importation of Brazilian products to the United Kingdom in view of the fact that Brazil had extinguished £80,000,000 of British savings. The questioner urged this action on the grounds that, as diplomatic protests were disregarded unless the Government made clear to foreign borrowers that ill-treatment of British capital would be met by tariff reprisals, not British subject would invest in future in foreign countries. Sir John Simon replied that the Government attached the greatest importance to the resumption of payment of the Brazilian internal debt, and was in close consultation with the council of foreign bondholders. He had considered Sir Joseph Leech’s suggestion, but did not think it would achieve its object.
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Wairarapa Times-Age, 18 June 1938, Page 7
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166LOST MILLIONS Wairarapa Times-Age, 18 June 1938, Page 7
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