§ 46. Mr. Shepherdasked the President of the Board of Trade if he will state the total United Kingdom adverse balance of trade with Canada over the last 10 years; and for how much of this loss the United Kingdom had to provide dollars.
§ Mr. GreenThis figure can be obtained from Account IV of the Trade and Navigation Accounts covering this period. It is not possible to say how a balance with any single country has been financed; but in the conditions of convertibility prevailing today, the adverse balance in this case could have been met by an increase in Canada's sterling holdings, by a drawing on the United Kingdom's reserves, or by a combination of the two.