HC Deb 25 March 1958 vol 585 c208
18. Mr. Emrys Hughes

asked the Chancellor of the Exchequer why he is importing gold from the Union of Soviet Socialist Republics.

Mr. Amory

Gold is on open general licence and can be freely imported from any source either by an authorised recipient or for sale on the London market. I see no reason to treat Soviet gold differently from any other gold.

Mr. Hughes

Will the Chancellor tell us whether it is the policy of this Tory Government to import more gold from Moscow in order to stabilise British capitalism? Further, does not he think that he would get more gold from Moscow if he adopted Lord Beaver-brook's very sensible advice and removed all barriers on trade with Russia?

Mr. Amory

I should like to tell the hon. Gentleman that it is entirely open to him to buy gold from Russia, if he wishes to do so, though I shall not be able to let him have dollars for the purpose and, after having bought the gold, he must not keep it but must hand it over.

Mr. H. Wilson

The right hon. Gentleman will be aware that in 1953 also this Government were kept afloat on "Red" gold. Will he say whether it is still the practice, on importing Soviet gold into this country, to melt it down and remove the hammer and sickle before it is re-exported to the United States?

Mr. Amory

I am afraid that I must have notice of that question. I am not sure that I shall be able to discover the information the right hon. Gentleman wants, even if he does give notice of it.