HC Deb 02 June 1949 vol 465 cc2310-1
61. Mr. Stokes

asked the Chancellor of the Exchequer what amounts of gold and dollars have been paid to the Organisation of European Economic Co-operation countries each month from the inception of the Intra-European Payments Agreement.

The Economic Secretary to the Treasury (Mr. Douglas Jay)

I will, with permission, circulate the figures in the OFFICIAL REPORT.

Mr. Stokes

Can my hon. Friend give me something more intelligible? I want to know the answer particularly. Can he say if the gold was sent in bullion and not in coin, what amount was involved, and what was the rate per fine ounce?

Mr. Jay

The figures which I propose to circulate are perfectly intelligible, and they show, as I think the House knows, considerable payments to Switzerland and Belgium in particular. The other points which my hon. Friend raised are not in his Question, and perhaps he will give notice of them.

Mr. Stokes

Surely I am entitled to know what amount is involved, and surely my hon. Friend can tell me that, as I wish to do a bit of propaganda on this subject.

Following are the figures:

GOLD AND DOLLAR SETTLEMENTS IN CONNECTION WITH PAYMENTS AGREEMENTS WITH O.E.E.C. COUNTRIES
Paid in £'000
Belgium Switzerland Bizone
1948
October 2,500 500 3,161
November 500
December
1949
January 2,700 80 1,502
February 1,700 288
March 1,231 1,496
April 2,260 1,696
May 1,792 1,015