§ 47. Mr. Jaggerasked the Chancellor of the Exchequer whether, in view of the new Anglo-Japanese formula, the Government still intends to support Chinese currency?
§ Sir J. SimonThe formula agreed upon at Tokyo does not imply any change in the views of His Majesty's Government as to the desirability of maintaining the stability of the Chinese currency in the interests of this country and of other countries which have important financial and trade interests in China.
§ Mr. PriceCan the right hon. Gentleman assure us that he will give no special support to the Japanese currency which is circulating in China and which is tied to the Chinese dollar, and by which the Japanese are trying to get financial control over certain parts of China?
§ Sir J. SimonI do not think I can enlarge upon the answer I have given, which is a full answer to the question that was put. The hon. Member's supplementary question is of a different order.
§ Sir Herbert WilliamsIs my right hon. Friend aware that every action he takes in the interests of this country in supporting foreign countries is subsequently used as a ground for denunciation at meetings of old age pensioners?
§ 48. Mr. Bellengerasked the Chancellor of the Exchequer whether the statement on Chinese currency issued at Hong Kong on 8th June to the effect that the ability of the authorities to maintain the exchange will not be questioned still represents the views of His Majesty's Government?
§ Sir J. SimonThe statement referred to was not issued by His Majesty's Government, who have not at any time expressed a view as to the future exchange value of the Chinese dollar.
§ Mr. BellengerIs the right hon. Gentleman aware that in answer to a question put by me, he quoted these very words from the statement that was issued in Hong Kong, and am I to understand that there was no purpose whatever in quoting the statement in answer to me, and is he aware that since that statement was made the Chinese dollar has depreciated further?
§ Sir J. SimonMy recollection is that the hon. Member asked me for information on this subject, and I referred him to the statement issued by the authorities in China.
§ Mr. BellengerMay I ask what was the right hon. Gentleman's purpose in referring me to that statement if he did not take it as being substantially correct?
§ Sir J. SimonI think that the statement to a large extent was a statement as to future prospects. Obviously, attention must be paid to the opinion of the authorities in the country concerned as to their currency.
§ 56. Mr. R. Morganasked the Chancellor of the Exchequer whether the British Government will continue to do its utmost, in the interests of world trade, to maintain the stability of Chinese currency?
§ Sir J. SimonI would refer my hon. Friend to the reply given to the hon. Member for Bassetlaw (Mr. Bellenger) on 4th July.