§ 75. Sir W. Smithers
asked the Chancellor of the Exchequer to what extent the value of Argentine's sterling balances is guaranteed by the British Government against a depreciation of sterling by a special gold clause; and if he will reconsider this, in view of the discriminatory treatment accorded over many years to British investors in the Argentine.
§ Sir J. Anderson
These balances carry a guarantee based upon the price of gold in London. The answer to the second part of the Question is in the negative; action in regard to discriminatory treatment of our overseas investments has to be dealt with, in cases that arise, as a separate matter.
§ 76. Sir W. Smithers
asked the Chancellor of the Exchequer whether, in view of the fact that sterling balances can, in 1519 many instances, only be satisfied after the war by the export of British goods and services or in gold and acceptable foreign currencies, if available, he is taking all possible steps to ensure that what remains of our overseas investments shall, in order to mitigate the problem of sterling balances, be accorded the fairest possible treatment.
§ Sir J. Anderson
I fully agree with my lion. Friend that all possible steps should be taken to ensure that our overseas investments shall be accorded the fairest possible treatment. This is a matter to which His Majesty's Government will continue to devote special attention.
§ Sir W. Smithers
In view of the fact that the British investor has helped to develop the countries indicated in these two Questions, will my right hon. Friend consult the Foreign Secretary to see what he can do to put Great Britain's foot down firmly, to ensure that the British investor receives decent treatment?