asked the Under-Secretary of State for India whether Indian loans, issued since the establishment of the Indian Constitution, are guaranteed by the British Government.?

The passage of the Government of India Act of 1919, to which I presume my hon. and gallant Friend refers, has not in any way affected the legal status of the sterling loans issued by the Secretary of State under the East India Loans Acts. I would, further, refer my hon. and gallant Friend to the answer on this subject given by the right hon. Gentleman the Member for the Hillhead Division of Glasgow (Sir R. Horne) to the then Member for the Elland Division of York (Mr. Ranasden) on the 31st May last.