§ 53. Mr. Austin
asked the Chancellor of the Exchequer whether he is satisfied that the contraction of the active note circulation by £19,769,000 in the past fortnight is not in some degree due to black market operators disposing of illicit gains; and whether he will now therefore give further consideration to the recall of the currency.
§ Sir S. Cripps
I have nothing to add to the reply which I gave to the hon. Member for Bucklow (Mr. Shepherd) on 18th November.
§ Mr. Austin
While appreciating the importance of the element of surprise in this matter, will the Chancellor continue to bear in mind the enormous volume of the transaction involved?
§ Lieut.-Commander Braithwaite
Would not the Chancellor agree that the discussion during the Budget Debates on recalling the note issue has caused some embarrassment in the black market?