HC Deb 25 April 1939 vol 346 cc961-2
48. Mr. Dobbie

asked the Chancellor of the Exchequer the amount of gold which has been exported from London since 15th March, 1939; what proportion of this is British gold and what proportion is foreign in passage through London or English ports; what is the general destination of this gold and the names of the London houses engaged in these transactions; and whether he is satisfied that it is in the public interest that such large outflows of gold should be permitted in the existing condition of international affairs?

Captain Crookshank

Exports and imports of gold and the names of the countries from which gold is consigned or to which gold is imported and exported appear in the regular Customs Returns. I am not in a position to give any information in regard to the other points refered to in the first three parts of the question. In reply to the fourth part of the question, my right hon. Friend is satisfied that it is in the public interest to retain the greatest possible degree of freedom in the London gold market.

Mr. Thorne

Can the Financial Secretary give any reason why a good number of people are sending gold to America?

Mr. Craven-Ellis

Will the Government consider taking steps to reduce the value of the £ sterling in the foreign exchange markets so as to put a stop to the export of capital?