§ Mr. Boothby
asked the Chancellor of the Exchequer whether the refusal on the part of the Foreign Transactions Advisory Committee to sanction certain foreign loans during the past 12 months was due primarily to the fact that, according to the information at the disposal of that committee, there is no surplus of gold in this country available for lending abroad; 1218W and whether he anticipates that such a surplus will be available in the near future?
§ Sir J. Simon
In making their recommendations, the Foreign Transactions Advisory Committee have acted in accordance with the general instructions contained in their terms of reference which were published in the OFFICIAL. REPORT of the 7th April, 1936. The policy laid down in those instructions for the guidance of the committee is not based upon a single criterion such as the total gold holding of this country, and the latter part of the question does not therefore arise.