32. Mr. CHAVEN-ELLIS
asked the Chancellor of the Exchequer whether, in view of world exchange restrictions interfering with international trade, the Government will declare without delay their future monetary policy; and will he, at the Ottawa Conference, support the establishment of an Empire monetary policy based on eligible bills and gold and silver, and afterwards invite the countries who have gone off the Gold Standard system and linked their currencies to the pound sterling to join the Empire monetary group, so that an international conference may be called to agree upon an international monetary system?
§ The CHANCELLOR of the EXCHEQUER (Mr. Chamberlain)
In reply to the first part of the question, I am unable to add to my previous statements on the subject; and as regards the second part of the question, I would refer my hon. Friend to the reply given by my right hon. Friend the Financial Secretary to the hon. Member for Huddersfield (Mr. Mabane) on the 2nd June.
§ Mr. CRAVEN-ELLIS
Will the right hon. Gentleman and the Government appreciate the gravity of the national and international financial position; and may 2097 I ask that in the interests of industry and the unemployed they will formulate a monetary policy?
§ Mr. HAMMERSLEY
Will the right hon. Gentleman say whether the House may be assured that in respect to both the Ottawa and the Lausanne Conferences the Government have a policy?