Captain CAZALET(by Private Notice) asked the Secretary of State for Dominion Affairs whether his attention has been called to statements which have appeared in the Press of South Africa to the effect that His Majesty's Government in the United Kingdom have indicated to the French Government that they would view with disfavour the raising by 680 a British Dominion of a loan in a foreign country for the purpose of maintaining the gold standard in that Dominion, and that, as a result of such action by His Majesty's Government in the United Kingdom, His Majesty's Government in the Union are likely to find themselves unable to raise a loan in France; and whether there is any truth in this statement?
Mr. J. H. THOMASYes, Sir, my attention has been called to the statement in question, and I am glad to have this opportunity of making it clear that it is entirely without foundation. Any such attitude on the part of His Majesty's Government in the United Kingdom as that attributed to them would be wholly contrary to their policy, and is unthinkable.
§ Mr. RHYSIs it not true to say that the Dominions as a whole derive great benefit from the fact that Great Britain accords trustee status to their loans in this country?
Mr. THOMASCertainly there can be no minimising both the value and the importance of the trustee status from which our Dominions benefit.
§ Mr. SMITHERSWill the right hon. Gentleman inform the House if South Africa intends to remain on or to go off the gold standard?