HC Deb 19 December 1932 vol 273 c765W

asked the Chancellor of the Exchequer whether he will take steps to ensure that there will be no restriction of credit as a result of a transfer of gold in payment of the December instalment of our debt to the United States of America?


I would remind my hon. Friend of the statements which my right hon. Friend made last Wednesday on this subject, when he explained that the control of credit and currency lies with the monetary authorities and is necessarily governed by circumstances which cannot be evaluated in advance. Subject to that, he indicated that there is no reason to anticipate any shortage of credit or any departure from recent monetary policy.