§ 33. Mr. Craven-Ellisasked the Chancellor of the Exchequer whether he will issue a White Paper explaining the monetary mechanism to be adopted to assure the implementation envisaged in the White Paper, Cmd. 6527, on Employment Policy, giving a detailed explanation of how legal tender and cheque money comes into existence and the cost of creating same; and what other monetary instruments are created and used in the finance of industry and Government.
§ Sir J. AndersonI see no reason why the policy set out in the White Paper on Employment Policy should involve any radical change in our present monetary system. No doubt, in the future as in the past, that system and all our related financial mechanisms will show themselves capable of adaptation to meet new situations: but it is impossible now to forecast how far such adaptations may be necessary or what form they may then take. I hardly think it necessary to issue a White Paper explaining the systems at present in use.
§ Mr. Craven-EllisMay I ask the right hon. Gentleman to make a note that if there is no alteration in our monetary mechanism, the policy of full employment will never be achieved?
§ Sir J. AndersonThat seems to me to be a matter for debate.