§ Mr. WISEasked the Chancellor of the Exchequer where the headquarters of the Bank of International Settlement is to be situated and in what currency its operations are to be conducted?
§ Mr. P. SNOWDENNo decision has been reached as to the place where the headquarters of the proposed Bank for International Settlements shall be situated. According to the proposals of the Experts' Committee, which recommended the setting up of this Bank, the Bank's capital would be expressed in the currency of the country of its domicile,
British War Debt Liabilities. (Debt to United States of America.) Financial year. Amount due. Equivalent in Sterling at par of exchange. 1929 to 1932 inclusive … $160,000,000* a year (approx.) £33,000,000 a year (approx.) 1933 to 1984 inclusive … $183,000,000* a year (approx.) £37,700,000 a year (approx.) *The exact amounts vary slightly from year to year. 662W
Anticipated War Debt Receipts. Financial Year. Debtor Governments. Total. France. Italy. Others. £ £ £ £ 1929 … … 10,000,000 4,000,000 1,050,000 15,050,000 1930 … … 12,500,000 4,000,000 1,200,000 17,700,000 1931 … … 12,500,000 4,000,000 1,250,000 17,750,000 1932–1934 inclusive … … 12,500,000 4,118,000 1,250,000 17,868,000 1935 … … 12,500,000 4,118,000 1,275,000 17,893,000 1936–1938 inclusive … … 12,500,000 4,118,000 1,375,000 17,993,000 1939 … … 12,500,000 4,118,000 1,425,000 18,043,000 1940 and 1941 … … 12,500,000 4,118,000 1,475,000 18,093,000 1942–44 inclusive … … 12,500,000 4,118,000 1,675,000 18,293,000 1945–1956 inclusive … … 12,500,000 4,118,000 1,900,000 18,518,000 1957–1966 inclusive … … 14,000,000 4,118,000 1,900,000 20,018,000 1967–1986 inclusive … … 14,000,000 4,118,000 2,150,000 20,268,000 1987 … … 14,000,000 2,059,000 2,150,000 18,209,000 1988 … … — — 800,000 800,000 and its accounts would presumably be kept in that currency also. The Bank would be free to conduct operations in any currency, but it would accept deposits in those currencies only which satisfy the practical requirements of the gold or gold-exchange standard.