§ 44. Captain Gammans
asked the Secretary of State for India what is the amount of the sterling balances standing to the credit of India; what was the position 1305 at the outbreak of the war; and if he is prepared to issue a comprehensive statement showing how these balances have been accumulated.
§ The Secretary of State for India (Mr. Amery)
As regards the first and second parts of the Question, I would refer my hon. Friend to the reply given by the Chancellor of the Exchequer to the hon. Member for Gravesend (Sir I. Albery) on 13th June. As regards the third part, I am, as I informed the hon. Member for Farnham (Mr. G. Nicholson) on 8th June, keeping the matter under consideration. But the preparation of a comprehensive analysis, suitable for publication, would require a great deal of work both here and in India and would involve considerable difficulties partly of a technical character and partly arising from the confidential character of some of the material concerned.
§ Captain Gammans
Does not the right hon. Gentleman feel that it is time that the people of this country realised the extent to which these sterling credits are going to affect our reconstruction here at home?
§ Mr. Shinwell
May I ask the right hon. Gentleman whether he has observed that the subject of India's sterling balances has been raised in the International Monetary Conference at Bretton Woods; and can he say under whose authority that subject was raised, as we understood that it was strictly confined to international monetary agreement?