BRITISH CREDIT TO FRANCE

Press, Volume LXXII, Issue 21714, 22 February 1936, Page 15

BRITISH CREDIT TO FRANCE

* RETURN FOR FORMER SERVICE TO BRITAIN (BRITISH OFFICIAL WIEELESS.) RUGBY, February 20. The Chancellor of the Exchequer (Mr Neville Chamberlain) was questioned in the House of Commons about the sterling credit to France. He replied that the French Government had recently informed him of its desire to raise a banking credit in London. The House would recollect that in 1931, through the good offices of the French Government, his Majesty's Government had obtained a large banking credit in Paris, and on the present occasion, as on the occasion of a similar operation in 1933, he was glad to be able to perform a similar service, and to convey to the French Government his consent to their proposed borrowing. The credit was for £40,000,000 for a period not exceeding nine months. The Chancellor added, that when he gave his consent to' the operation, he naturally had in mind the position of exchange, and he had satisfied himself that the proper technical arrangements had been made between the central banks. Answering a member who asked about the outstanding indebtedness of France to Britain, Mr Chamberlain said that the last war debt pavment received from France was made in June, 1931, and since that date payments had been suspended in accordance with the arrangements made at the Lausanne Conference.