§ MR. HART-DAVIESI beg to ask Mr. Chancellor of the Exchequer if his attention has been called to the fact that the recent rise in the Bank rate has been caused by no very excessive withdrawals of gold; and whether, to obviate the inconvenience to trade caused by a high Bank rate, he will consider the advisability of taking steps to establish a national reserve of gold.
§ MR. ASQUITHThe question has for some time engaged, and is engaging, my attention. I am not at present prepared to make any definite statement on the subject, but I must not be taken to assent to the suggestion that the establishment and maintenance of an adequate gold reserve is the duty of the State and not that of the banking community.