§ 58. Sir F. WISEasked the Chancellor of the Exchequer what is the proportion of the bank reserve by the last return and the return a year ago?
§ Mr. SNOWDENThe proportion of reserve to liabilities in the Bank Return of 2nd July, 1924, was 13⅜ per cent., as compared with 14¼ per cent. a year ago.
§ Mr. A. M. SAMUELDoes not this matter govern the fact as to whether the hank rate should rise and fall, quite independently of any recommendation, as pointed out by hon. Members behind the right hon. Gentleman?
§ Mr. SNOWDENThat is going back upon the previous question. I can only repeat what I have said that I decline to be drawn into a discussion on this question, and to be expected to give answers which might have very serious consequences.