§ 64. Colonel Crosthwaite-Eyreasked the Chancellor of the Exchequer what action has been taken by His Majesty's Government to stop illegal sterling transactions in Tangier, which cause losses of gold and dollars to this country.
§ Mr. JayPrior to the recent change in the exchange rate, which has taken much of the profit out of these transactions, Tangier had been excluded from the list of countries among which sterling is freely transferable. All payments of sterling to Tangier from other countries, therefore, require the approval of the United Kingdom Exchange Control and none is allowed except for genuine merchanting trade. In addition a close watch is kept on exports from this country consigned to Tangier.