§ 57. Mr. JOELasked the Chancellor of the Exchequer if he can make a statement as to the attitude of the Treasury to the present trafficking in the gold coins of the realm, which has recently attained considerable proportions, in order that the public may be informed whether it is in the national interest that such trafficking should be stimulated or discouraged?
Mr. CHAMBERLAINSeeing that it is clearly against the national interest that gold coins should be hoarded, I see no reason to object to their sale so long as the law prohibiting the melting of gold coins is not contravened.
§ Mr. THORNECan the right hon. Gentleman give the reason why the selling price of gold goes up and down so rapidly? Is he aware that the price of gold went down 5s. per fine ounce in one day?
§ Mr. MACQUISTENIs the right hon. Gentleman aware that many people are going round the rural areas and telling the poor country people who have hoarded some gold that, now that Britain has gone off the Gold Standard, the sovereign is worth only 14s. or 15s., but that they will give them £1 for every sovereign as a special consideration; and that they are getting a great many sovereigns from poor people in that way?
Mr. CHAMBERLAINI think that the procedure to which my hon. Friend alludes can only be taking place in Scotland.
§ Mr. D. GRENFELLIs the right hon. Gentleman satisfied that the gold so collected is not being melted down?
§ Mr. BOOTHBYHas the right hon. Gentleman any evidence that this procedure is being carried on in Scotland?