§ 45. Mr. Manderasked the Chancellor of the Exchequer whether he will consider the advisability of approaching the German Government with reference to the position created by the different interpretations of the duties of director of the Bank for International Settlements in Great Britain and in Germany, with a view to seeing whether, as co-signatories of the agreement of 20th January, 1930, setting up the bank, a satisfactory arrangement for the future can be reached?
§ The Chancellor of the Exchequer (Sir John Simon)The position is governed by Article 31 of the Statutes of the Bank for International Settlements, which provide that no director shall be a member or an official of a Government, unless he is the Governor of a Central Bank. 2050 The Statutes rest upon the Convention of 30th January, 1930, and could only be altered by agreement between all the signatory Governments. As I have already indicated, I do not think that any useful purpose would be served by approaching those Governments with a view to amending the Statutes.
§ Mr. ManderIs the right hon. Gentleman satisfied with a situation which leaves the Chairman of the Bank for International Settlement directly under the orders of the German Government and leaves the British director completely independent to do exactly what he likes, and is it not proposed to take some action to remedy that situation?
§ Sir J. SimonIn any case, the hon. Gentleman's suggestion would not, I fear, remedy the present position.