§ 71. Mr. Lewisasked the Chancellor of the Exchequer whether he is aware that many people anxious to offer private holdings of gold coin to the Government through their bankers have been unable to do so owing to some of the branch banks having no instructions for accepting such offerings, and that in one case recently an application direct to the bullion department of the Bank of England was refused; and whether this means that the Treasury order that all private holdings of gold coin or bullion must be offered to the Government through the holder's bank for payment in sterling at the prevailing rate has been withdrawn?
§ Sir J. SimonGold coins should certainly be accepted by branch banks when offered to them for sale to the Treasury, and no variation has been made in the Regulation on this point. If instances of refusal have occurred in individual cases, there must have been misapprehension on the part of the branch concerned as to its exact functions under the Regulations, but I must add that the banks as a whole have admirably carried out the heavy tasks imposed upon them by the Defence (Finance) Regulations. Persons offering gold coin should deal through their own bank and not through the Bank of England.
§ Mr. LewisIf I bring to my right hon. Friend's notice cases where gold coins have been refused by banks which were the bankers of the persons offering them, will he look into them?
§ Sir J. SimonI shall be glad to have particulars.