CREDITS TO FRANCE.

Waikato Times, Volume 119, Issue 19816, 21 February 1936, Page 7

CREDITS TO FRANCE.

A GESTURE OF GOODWILL. SUM OF £40,000,000 INVOLVED. WAR DEBTS SUSPENDED. (Official Wireless.) (Received Feb. 21, 12 noon.) RUGBY, Feb. 20. Mr Neville Chamberlain, Chancellor of tiie Exchequer, was questioned in the House of commons regarding the sterling credit to France. lie replied that Hie French Government had recently informed him of ils desire to raise a banking credit in London. The House would recollect that in 1931, owing to the good offices of the French Government, His Majesty’s Government 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 convey to the French Government his consent to its proposed borrowing. The credit was for £4o,Goo,oo(L_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 the exchanges, and satisfied himself that the proper technical arrangements had been made between the central banks. War Debt Payments. Answering a member who inquired about the outstanding indebtedness of France to Britain, Mr Chamberlain said the last payment received from France in respect to war debts was made in June. 1931, and since that date payments had been in accordance with arrangements hiadc at the Lausanne Conference.