§ Mr. FELLasked the President of the Board of Trade what evidence he has in his possession in support of the statement that the great production of gold at the present time is causing a depreciation in its value and a consequent rise in the prices of all products; if such gold is not now being readily absorbed; and if there is any evidence of this beyond the fact that the value of many articles has risen?
Mr. ROBERTSONIt is not possible to deal adequately by question and answer with the relations between gold output and the level of prices, or to summarise in brief form the nature of the evidence which may appear to justify the belief that the rise in world prices in recent years is at least partly traceable to the very considerable increase in gold output.
§ Mr. FELLMay I ask if some statement cannot be made by the Board of Trade on the subject as it has already been referred to by a Cabinet Minister?
§ Mr. PETOMay I ask the hon. Gentleman whether his Department has any evidence that the increase in the production of gold is in excess of the world's trade and the consequent demand for gold?