§ 66. Sir W. Smithersasked the Chancellor of the Exchequer if, in view of the strength of the £sterling on the international market, he will now make sterling freely convertible.
§ Mr. Boyd-CarpenterNo, Sir.
§ Sir W. SmithersCannot my hon. Friend release the pound sterling and make it freely convertible, and thus enable sterling once again to be the big currency of the world on which international trade moves?
§ Mr. Boyd-CarpenterI have nothing to add to my very full reply.
§ Lieut.-Colonel LiptonDoes the answer mean that the intention of the Government has been concentrated rather upon improving the internal purchasing value of the pound which is in great need of improvement?
§ Mr. Boyd-CarpenterIt means exactly what it says.