§ 50. Mr. CRAVEN-ELLISasked the Chancellor of the Exchequer whether he is prepared to give legislative recognition to this country's new standard, namely, stability of the internal general price level; and whether he is prepared to give legislative effect to those reforms of the monetary system which are necessary to ensure the stability of the new standard?
Mr. CHAMBERLAINI am satisfied that our monetary policy, which has often been stated in the House, can be carried 551 out on the basis of the existing law, and that no further legislation is at present required. I must not, of course, be understood to accept my hon. Friend's statement of that policy as accurate or complete.
§ Mr. CRAVEN-ELLISIs my right hon. Friend satisfied that the existing law provides the stability which industry considers necessary?
§ Sir A. M. SAMUELMay I ask my right hon. Friend if he will request the hon. Member to issue a paper to explain exactly what his question means?