§ 42. Mr. Grimondasked the Chancellor of the Exchequer what are the general principles governing the supply of dollars to such centres of entrepôt trade as Aden and Hong Kong.
§ Mr. MaudlingDollars for entrepôt or merchanting trade in goods to be resold outside the sterling area are provided from official sources only if dollars are being received in payment. In Hong Kong there is also a free exchange market in which residents are able to purchase dollars which are privately held against local currency.
§ Mr. GrimondDoes the hon. Gentleman not agree that if Aden were allowed to do greater trade in dollars it might earn considerably more than it does now? Are not such places in danger of losing trade to neighbouring ports outside the sterling area, through being unable to provide dollars?
§ Mr. MaudlingWe are anxious to expand the entrepôt trade in Aden for dollars against dollars. If the hon. 1359 Gentleman has any evidence of difficulties arising, I shall be very glad to examine it.