§ Mr. PENNEFATHERasked the Chancellor of the Exchequer the total value of the gold which would be required to repay the British proportion of the Anglo-French loan of five hundred million dollars raised in New York in October, 1915, assuming the exchange rate on date of payment to be 3.65 dollars and that all relevant considerations are taken into account; and what the sum would be if the exchange rate were then four dollars?
§ Mr. BALDWINThe amount of gold required to pay a given sum in dollars does not vary with fluctuations in the exchange value of sterling. It would only vary if dollars ceased to be on a parity with gold.