§ 52. Colonel WEDGWOODasked the Chancellor of the Exchequer whether he can give the House any information as to the policy of the Government with regard to the question of tieing the dollar to the £; and, if so, at what figure it is proposed to do so?
§ Mr. HORE-BELISHAMy right hon. Friend cannot usefully make any statement on this subject at the moment.
§ Colonel WEDGWOODMay I ask whether the hon. Gentleman and his right hon. Friend are fully alive to the desirability of following any inflation of the dollar by inflation of the £, so that the £ should not rise relatively to the dollar?
§ Mr. HORE-BELISHAI am much obliged to the right hon. and gallant Gentleman for having expressed an opinion which I will convey to my right hon. Friend.
§ Colonel WEDGWOODIt is not only my opinion which matters, but the opinions of the Chancellor of the Exchequer and of the hon. Gentleman himself, in view of the serious rise in the value of sterling which has taken place recently.
§ Mr. HORE-BELISHAThe right hon. and gallant Gentleman is trying to draw a statement from me as to the views of my right right hon. Friend and myself. I can assure him that we are "two hearts that beat as one."
§ Colonel WEDGWOODWhich way do you beat?
§ Mr. BOOTHBYCan the hon. Gentleman give an undertaking on behalf of His Majesty's Government that they will not attempt to tie the £ sterling to the dollar without a previous discussion in this House?