HC Deb 15 October 1940 vol 365 cc599-600
53. Mr. Stokes

asked the Chancellor of the Exchequer whether he will state precisely the reasons for continuing the membership of the Bank for International Settlements and whether the Government has any holding in this institution?

Sir K. Wood

I would refer my hon. Friend to the reply given by my right hon. and gallant Friend the Financial Secretary to the Treasury to the hon. Member for Southampton (Mr. Craven-Ellis) on 9th October.

Mr. Stokes

Is not the Chancellor of the Exchequer aware that that reply contains no information of any kind whatsoever, and when will he be in a position to give the information?

Sir K. Wood

I cannot accept that.

Mr. Stokes

Then will the right hon. Gentleman read the reply?

59. Mr. Bellenger

asked the Chancellor of the Exchequer whether transactions are still continuing between the Bank of England and the other members of the Bank for International Settlements, and, if so, what is their nature?

Sir K. Wood

No transactions are, of course, taking place between the Bank of England and central banks of enemy countries, or central banks which are operating in countries occupied by the enemy. With central banks in neutral countries the Bank of England conducts those transactions which are normal as between one central bank and another.

Mr. Bellenger

Does not the Bank of England act as a constituent part of the Bank for International Settlements, and in that capacity is it taking part in any transaction with other members of the Bank for International Settlements?

Sir K. Wood

I think I have already answered that. If the hon. Member requires further information, perhaps he will put a Question on the Paper, and I will give him a reply.

Mr. Bellenger

I asked that Question as a Supplementary Question the other day, and the right hon. Gentleman asked me to put it on the Paper. I have put it down for to-day, but it has not been answered.

Sir K. Wood

I do not think so, because this Question does not deal with that. Perhaps the hon. Member will put a Question down on the subject.

Mr. Bellenger

That is splitting hairs.