BRITISH LOSSES IN BRAZIL
PROHIBITIVE TARIFFS URGED SIR JOHN SIMON REPLIES TO QUESTION
(BBITISa OmclAL WIBELESS.)
RUGBY, June 16,
In the House of Commons, Sir Joseph Leech (Conservative) asked the Chancellor of the Exchequer (Sir John Simon) whether, notwithstanding the temporary loss to all concerned, he would impose prohibitive duties on the importation to the United Kingdom of products from Brazil, which had extinguished £80,000,000 of British savings. Sir Joseph Leech urged this action on the ground that diplomatic protests were disregarded. Unless the Government made clear to foreign borrowers that ill-treatment of British capital would be met by tariff reprisals, ho British subject should 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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Press, Volume LXXIV, Issue 22431, 18 June 1938, Page 15
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159BRITISH LOSSES IN BRAZIL Press, Volume LXXIV, Issue 22431, 18 June 1938, Page 15
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