§ 74. Mr. STEWARTasked the Secretary of State for the Colonies what the alloyed 413 coinage now issued in Nigeria is composed of, and the fineness and intrinsic value of one shilling of this new money; whether this alloyed coinage is full legal tender to an unlimited amount; and if he will explain why the West African subjects of His Majesty get such inferior money to his Asiatic subjects in Crown Colonies east of Suez?
§ The SECRETARY of STATE for the COLONIES (Mr. Churchill)No, Sir. I do not consider it desirable to make public the composition of the alloy coins issued in West Africa. No question arises as to the fineness of an alloy coin, and its intrinsic value is small. The alloy coinage is legal tender in the West African Colonies to any amount, and as its function is to replace paper notes of small denominations I consider its introduction an advantage. The value of the coins in relation to sterling in this country is maintained by the action of the West African Currency Board, who pay off at par in London coins deposited with them in West Africa.
§ Mr. STEWARTThe right hon. Gentleman has not answered the last part of my question.
§ Mr. CHURCHILLYes, I have.