§ 54. Mr. Craven-Ellisasked the Chancellor of the Exchequer whether the special money issued by the Bank of England for 659 our troops to spend in Morocco and Algeria is part of the fiduciary note issue authorised by Parliament?
§ Sir K. WoodNo, Sir. These notes, which are not issued by the Bank of England, but by the military authorities, are not legal tender in this country, and the question does not, therefore, arise.
§ Mr. Craven-EllisAre not these notes issued by the military authorities dangerous? What is the backing for them?
§ Sir K. WoodI could not accept my hon. Friend's suggestion about danger. It is very necessary for the military authorities. The backing is the obligation of the Government.