§ 35. Mr. HUME-WILLIAMSasked the Home Secretary whether his attention has been called to the practice indulged in by certain manufacturing jewellers of melting sovereigns in order to use the gold for jewellery; and whether he will introduce legislation at an early date to put a stop to a practice which must tend to deplete the gold reserves of the country?
§ The CHANCELLOR of the EXCHEQUER (Mr. McKenna)With the hon. Member's permission, I will reply to this question. My attention has been called to the melting down of sovereigns for the manufacture of jewellery. I agree with the hon. Member that the practice is most undesirable in present circumstances and should be discouraged, but I fear that I cannot contemplate legislation on the subject.
§ Mr. HUME-WILLIAMSWill the right hon. Gentleman not try to stop a practice so bad for the country?
§ Mr. McKENNAI have done my best to stop the practice administratively, but I have no further power.
§ Mr. HUME-WILLIAMSIf there is no law to prevent sovereigns being dealt with in the way described in the question, how can the right hon. Gentleman stop it?
§ Mr. McKENNAI can only stop it by a new law.
§ Mr. HUME-WILLIAMSWill the right hon. Gentleman introduce a new law?
§ Mr. McKENNAI will consider the point, but, as the hon. and learned Gentleman knows, I have very great pressure on my time.