§ Sir KINGSLEY WOODasked the Chancellor of the Exchequer whether, under the provisions of the Currency Banknotes Act, 1914, notes have been issued to the extent of£340,109,000; whether the gold cover for these notes, having fallen to 8 per cent., the Government still do not contemplate taking any steps to provide additional cover in gold until demobilisation has been completed or to check or regulate in any way the issue of these notes in accordance with recognised principles in such cases?
Mr CHAMBERLAINI do not think it is practicable to increase the gold reserve held against currency notes at the present moment. With regard to the remainder of the question, I would refer my hon. Friend to what I said in my Budget Speech on Wednesday last.