§ 28. Sir J. D. REESasked the Chancellor of the Exchequer whether there is any and, if so, what reserve of gold maintained at the Treasury?
§ Mr. LLOYD GEORGEA gold reserve amounting at present to £27,500,000 is held by the Bank of England on behalf of the Treasury against the issue of currency notes.
§ Sir J. D. REESWas that what the right hon. Gentleman meant when he spoke of the need for a gold reserve at the Bank of England and at the Treasury?
§ Mr. LLOYD GEORGEYes, I referred to that.