HC Deb 28 February 1935 vol 298 cc1290-1
37. Mr. DAVID MASON

asked the Chancellor, of the Exchequer whether his attention has been drawn to the high price of gold bullion, indicating a continuous fall in the value of the paper pound; and whether His Majesty's Government propose to take any steps to arrest a further fall?

Mr. CHAMBERLAIN

I am aware of recent movements in the external or gold value of sterling, which is, of course, a different thing from its internal purchasing power. In reply to the last part of the question, I cannot undertake to publish such information for reasons of public policy, which I have explained on several occasions.

Mr. MASON

Can the right hon. Gentleman hold out any hope of an early stabilisation of the pound?

Mr. CHAMBEALAIN

No, Sir.

Dr. ADDISON

Can the right hon. Gentleman mention any time when he can give the House of Commons an account of the operations of this fund?

Mr. CHAMBERLAIN

I do not see any prospect of my doing so in the near future.

Dr. ADDISON

Am I to understand from that that the £350,000,000 made available will not be accounted for to Parliament at all?

Mr. CHAMBERLAIN

That is a matter which has already been decided by this House.

Mr. MASON

Is the right hon. Gentleman not aware of the gravity of the movements in the rate of exchange?