HC Deb 08 February 1934 vol 285 cc1308-9

asked the Secretary of State for the Colonies, in view of the devaluation by the United States of its gold dollar, what steps he proposes to take to protect the currency of British Honduras, British Guiana, and other British Colonies in which the United States gold dollar is at present legal tender?


United States gold coins are legal tender in the West Indian Colonies, British Guiana and British Honduras, but they have not been in effective circulation for many years except in the remoter parts of British Guiana. The value of such coins in present circumstances depends on their bullion content and has not therefore been affected by the recent monetary action in the United States. My hon. and gallant Friend will, however, be interested to know that it is proposed shortly to take a convenient opportunity of demonetising United States coins in the West Indian Colonies generally. British Honduras currency is in a special position in relation to the currency of the United States and the situation there has been watched carefully. In the rest of the Colonies referred to the currency is in no way linked to the United States paper currency, and accordingly no special action is required to safeguard their currency interests.