§ 36. Mr. AYLESasked the Chancellor of the Exchequer what amount of gold and bullion is held respectively by the banks in Great Britain and the United States of America, and what proportions these bear to the world supply?
§ The CHANCELLOR of the EXCHEQUER (Mr. Snowden)As the answer contains many figures, with my hon. 1494 Friend's permission, I will circulate it in the OFFICIAL REPORT.
§ The following is the answers:
§ The amount of gold and bullion held against Bank of England and currency notes is £153,437,000. There are no available figures for the amounts held by other banks in this country, but the total cannot be large. As regards the United States, there is no complete information. But the gold held by the Federal reserve banks and the United States Treasury on 1st May, 1924, was $4,014 million. The total monetary gold stock in the principal countries of the world at the end of 1922 was estimated in the United States Mint Report at $9,210 million. I am not aware of any more recent estimate.