HC Deb 07 February 1957 vol 564 c593
21. Mr. Cronin

asked the Chancellor of the Exchequer the respective proportions of gold and of dollar funds in Great Britain's gold and dollar reserve.

Mr. Birch

It is not the practice to reveal the composition of the reserves.

Mr. Cronin

Is the right hon. Gentleman aware that it is well known that the reserve contains a very high proportion of gold? Therefore, will he follow the more perspicacious example of Finance Ministers of other countries in Western Europe and substantially increase the dollar balances in the reserve, as the dollar balances earn 3 per cent. whereas bars of gold are productively inert?

Mr. Birch

I will note the hon. Gentleman's suggestion.

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