§ 60. Mr. John Grimstonasked the Chancellor of the Exchequer if he will make dollars available for the purchase of hides in the Argentine in view of the fact that discounts of up to 17 per cent. are given for payment in this currency.
§ Mr. GaitskellNo, Sir. Under the terms of Article 19 of the Anglo-Argentine Agreement on Trade and Payments of 27th June, 1949 (Cmd. 8079), all trade and financial payments between residents of Argentina and residents of the Scheduled Territories are to be settled in sterling.
§ Mr. GrimstonWould it not be a good idea to spend in this way some of the dollars we are earning, to help to reduce the cost of living?
§ Mr. GaitskellI think that the practice of dollar invoicing would be a most dangerous one to accept.