§ 54. Colonel Crosthwaite-Eyreasked the Chancellor of the Exchequer if he is aware that, following the recent rise in prices in the U.S.A. and the revaluation of Canadian and Swedish currencies, there has been an influx of funds to this country from the U.S.A., in anticipation of a similar revaluation of sterling; and 1871 if he will inform the House as to the measures His Majesty's Government intends to take against this movement assuming considerable proportions.
§ Mr. DaltonThe influx of funds to this country is due to an increase in the strength of sterling, as the result of the approval of the American Loan by Congress. I do not consider that any measures of the kind suggested in the second part of the Question are required.
§ Colonel Crosthwaite-EyreDoes the Chancellor of the Exchequer consider the movement of funds to constitute a genuine long-term investment, or is it merely a speculative one, which may rob his good-natured efforts to improve the value of sterling of much of their effect?
§ Mr. DaltonWe are watching the position, and so far I am not dissatisfied with the course of events.