HC Deb 23 May 1946 vol 423 cc537-8
68. Colonel Crosthwaite-Eyre

asked the Chancellor of the Exchequer whether he has any statement to make with reference to the disclosure by the Secretary of the United States Treasury, in the course of his evidence before the Banking and Currency Committee of the House of Representatives on 20th May, of the terms on which His Majesty's Government will settle the blocked sterling balances.

Mr. Dalton

The undertaking of His Majesty's Government with regard to the accumulated sterling balances is set out in Article 10 of the Financial Agreement dated 6th December, 1945 (Cmd. 6708).

Colonel Crosthwaite-Eyre

Does that mean that the figures given by Mr. Vinson before the Banking and Currency Committee are accurate?

Mr. Dalton

The commitment into which His Majesty's Government have entered is set out with great clarity in Article 10, and was explained, I hope reasonably clearly, in the speech which I made in this House when recommending the House to approve the Anglo-American Agreement. It will be found in the OFFICIAL REPORT, Vol. 417, c. 430 I have no reason to think that the United States Administration differs from His Majesty's Government in the interpretation which we both place on this provision.

Mr. Boothby

Can the right hon. Gentleman give a categorical assurance that there was no secret understanding or private understanding arrived at between His Majesty's Government and the Government of the United States, in addi- tion to the agreement set out in the White Paper?

Mr. Dalton

No, Sir. The commitment into which we have entered is set out in Article 10. Over and above that, there is no secret agreement at all. But, naturally, during the long discussions that have taken place between the two Governments, discussions have proceeded. But it is perfectly clear, and I repeat this—and I hope that the hon. Gentleman's antipathy to the loan agreement will not lead him to doubt this statement—that our commitment is as set out here. It is that and no other.

Mr. Norman Smith

Will the right hon. Gentleman say whether there is any truth in the report of what Mr. Vinson is alleged to have said?

Mr. Dalton

It is not my business to check up on the accuracy of Press reports.