§ Mr. WATT
asked the Chancellor of the Exchequer whether he is aware that the Courts (Emergency Powers) Act, 1914, is insufficient to protect owners of heritable property in Scotland from the demand of bondholders for rates of interest never in contemplation when the bonds were created; and whether, in view of a letter dated 20th February, 1915, written on behalf of his predecessor, and signed F. F. Liddell, he will take measures to prevent the calling up of bonds in all cases where the financial conditions consequent upon the War render it impossible to raise money to pay off such bonds unless at rates of interest of 5 per cent, or over?
§ Mr. McKENNA
I am aware that some bondholders in Scotland are attempting to raise the rate of interest on their bonds, and would refer my hon. Friend to the reply I gave on this subject on Wednesday last in answer to my hon. Friend the Member for North-West Lanarkshire. With reference to the last part of the question, my hon. Friend seems to have misapprehended the meaning of the letter he refers to.