HC Deb 19 July 1956 vol 556 cc1354-5
3. Dr. D. Johnson

asked the Chancellor of the Exchequer the regulating factor by which he determines the volume of money available in circulation as purchasing power.

Mr. H. Brooke

There is no single regulating factor: but Bank Rate and Exchequer financing are important elements.

Dr. Johnson

Will my right hon. Friend consider initiating the appropriate research with a view to the possibility of creating a commodity standard to operate on the same lines as the now outdated gold standard, so that the amount of money in circulation remains in balance with the amount of goods produced?

Mr. Brooke

No, Sir, I do not think that I can go quite so far as that.