§ 59. Colonel Crosthwaite-Eyreasked the Chancellor of the Exchequer whether the agreements for the convertibility of sterling now signed by His Majesty's Government had the prior agreement of all other members of the sterling area.
§ Mr. Glenvil HallNo, Sir.
§ Colonel Crosthwaite-EyreCan the right hon. Gentleman say whether other members of the sterling area are satisfied with the terms of this agreement?
§ Mr. Glenvil HallDoes it matter in this case? I am answering the Question on 2167 the Order Paper, and I think that the hon. and gallant Gentleman has two other Questions down. It is for us, whose currency it is, to decide, and not for another country to interfere.
§ 60 and 61. Colonel Crosthwaite-Eyreasked the Chancellor of the Exchequer (1) what arrangements have been made by His Majesty's Government for the convertibility of current balances of sterling acquired after 15th July, 1947, by countries outside the sterling area, other than those with whom His Majesty's Government has signed financial agreements;
(2) if he will state the arrangements made by His Majesty's Government with countries, other than those with whom a funding agreement has been already made, for the convertibility of sterling balances acquired by the countries concerned before 15th July, 1947.
§ Mr. Glenvil HallIt would not be desirable for me to go into details regarding the future arrangements now under discussion, or negotiation with various countries. My right hon. Friend is not yet able to make any additions to the list already given in his answer to the hon. and gallant Member on 24th April.