Mr. DUNDAS WHITEasked the Chancellor of the Exchequer if he will state what the estimated amounts, stated in pounds sterling, of the gold reserves held by the Bank of England, the Bank of France, the Imperial Bank of St. Petersburg, and the Reichsbank of Germany, respectively, at the beginning of January and the beginning of July of each of the years 1011, 1912, 1913, and 1914?
§ Mr. LLOYD GEORGEI have no official information in regard to the gold reserves of the foreign banks referred to in the question. The figures (compiled as regards these banks from general sources of information) are:—
— Bank of England. Bank of France. Bank of Russia. Reichsbank £ £ £ £ January, 1911 … 31,048,000 130,149,000 121,893,000 33,052,000 July, 1911 … 38,729,000 127,843,000 126,889,000 42,141,000 January, 1912 … 33,635,000 127,156,000 124,647,000 36,388,000 July, 1912 … 38,924,000 130,366,000 130,228,000 45,175,000 January, 1913 … 30,377,000 127,539,000 131,681,000 38,833,000 July, 1913 … 35,452,000 132,618,000 141,870,000 54,975,000 January, 1914 … 36,019,600 140,307,000 151,468,000 58,498,000 July, 1914 … 38,476,000 162,307,000 159,748,000 65,555,000 The figures for the Bank of England exclude gold coin in the Banking Department (which is not shown separately in the Returns), and those for the Bank of Russia exclude balances held abroad by that bank.
In any comparison of the figures it is, of course, necessary to bear in mind the great
388Wdifferences between the banking and currency systems of the respective countries.