§ 53. Mr. Walter Fletcherasked the Chancellor of the Exchequer to what extent the sale of gold mining shares for the account of the Exchange Equalisation Account since 19th September, 1949, resulted in a capital profit commensurate with the 30 per cent. devaluation of sterling.
§ Sir S. CrippsI am not prepared to disclose the transactions of the Exchange Equalisation Account.
§ Mr. FletcherIs the Chancellor aware that to create a great mystery about a simple transaction which may result in considerable profit is not in the best public interest, and that he should reveal this, otherwise the same sort of suspicions which proved correct in the case of the groundnuts accounts will appear here?
§ Sir S. CrippsI share the view of all my predecessors that transactions of the Exchange Equalisation Account should not be disclosed.