HC Deb 22 March 1920 vol 127 cc77-8W

asked the Under-Secretary of State for the Colonies whether the pound sterling is the present standard of value in West Africa; if not, what is the standard of value there; whether it is proposed to issue new coins for that part of His Majesty's Dominions containing less, and, if so, how much less, silver than the present coins of the same denomination; whether such coins will be legal tender for an unlimited amount; and whether any steps, and, if so, what steps, will be taken to maintain the standard value in West Africa and its rates of foreign exchange, and to prevent a disastrous rise of prices?

Lieut.-Colonel AMERY

The answer to The first part of the question is in the affirmative. It is proposed to issue two kinds of new coins, one of silver of the same fineness as the new United Kingdom coins and the other of a non-silver alloy. Both kinds of coins will be unlimited legal tender, and will be maintained at parity with the pound sterling by the same methods by which parity has been maintained hitherto.