HC Deb 20 April 1932 vol 264 c1474
49. Colonel WEDGWOOD

asked the Chancellor of the Exchequer whether the proceeds of the loans in Paris and New York made in July and August last were or were not used in support of sterling; and whether any of the proceeds were or were not available for repayment?

The FINANCIAL SECRETARY to the TREASURY (Major Elliot)

The answer is in the affirmative to the first part of the question, and also to the second part if the hon. and gallant Member means available in the form of sterling?

Colonel WEDGWOOD

In view of the statements in the foreign press, may I ask whether it is clear that the whole of these credits were exhausted before we came off the Gold Standard?

Major ELLIOT

We fired every shot in the locker.