Mr. DUNDAS WHITEasked the Chancellor of the Exchequer what were the rates of exchange in New York for the credit paper of the German Government at the end of July, 1914 (before the commencement of the War), and at the end of January, 1915 (after the War had been in progress for about six months), respectively, stated in terms of the number of dollars obtainable for Mark 1,000, with corresponding information as regards the rates of exchange, at the same times, of the credit paper of the British Government, stated in terms of the number of dollars obtainable for 1,000 shillings (£50)?
§ Mr. LLOYD GEORGEIt is not clear what my hon. Friend means by the exchange rates in New York of credit paper of the German and British Governments. The following figures relate to the sight rates of exchange. As the figures for 28th July, the latest date in the days just prior to the outbreak of War for which an effective rate was quoted between Berlin and New York, already show the influence of abnormal conditions, I have added figures for 30th June, 1914, when conditions were fully normal:—
— Dollar Value of 1,000 Mark. Dollar Value of 1,000 shillings. On June 30th, 1914 237,8125 243,825 On July 28th, 1914 237,59375 245,6875 On January 28th, 1915 218,4375 242,625