§ 52. Mr. Craven-Ellisasked the Chancellor of the Exchequer whether he is aware of the fact that the demand for and supply of Treasury bills is solely governed by the policy of the Bank of England, the Exchange Equalisation Account and the Treasury; is he aware that as a result of their joint operations the cash in the joint stock banks has declined by over £10,000,000 in one month, February to March, and that the bill portfolio has fallen to £190,000,000 from over £300,000,000 last autumn causing a deep disturbance in the money market; and what steps does he propose to take to restore the position?
§ Sir J. SimonI cannot add anything to the replies which I gave my hon. Friend on 30th March and 18th May.