§ 47 Mr. Boothby
asked the Chancellor of the Exchequer (1) whether, as from 8th June next, this country is under an obligation to pay for all current transactions with countries in the sterling area in dollars, at the request of the country concerned;
(2) which countries within the sterling area have been requested by this country to pay for their purchases from us in dollars as from 8th June next; and which of them have agreed to do so;
(3) whether it is the intention of His Majesty's Government to insist that the Governments of British colonies, protectorates or mandated territories shall pay for their purchases from this country in dollars at our request.
§ Mr. Dalton
No, Sir. Payments within the sterling area will continue to be made in sterling. Our obligation is that sterling proceeds of current transactions should, from 15th July, be available for current purposes anywhere.