§ 78. Mr. PENNYasked the Chancellor of the Exchequer whether, in view of the fact that the partial reversion to the gold standard at the date specified has discouraged or prevented Dominion or foreign loans being floated in London, he will consider the possibility of delaying the date of the complete reintroduction of the gold standard?
§ Mr. PENNYIs there any likelihood of the prestige of London as the financial centre of the world being damaged by the resumption of the gold standard?
Mr. GUINNESSNo, Sir, I do not think it really has any direct effect. If the hon. Member will look at the Report of the Currency Committee, he will find that they refer to the danger of overloading on foreign account, but that the resumption of the gold standard is expressly recommended because it would automatically check that danger in a far surer way than disturbance of the exchange.