§ Mr. MANDERasked the Chancellor of the Exchequer if he has now considered the interim report of the gold delegation of the financial committee of the League of Nations which recommend the desirability of promoting the use of cheques by the removal of Stamp Duties and in other ways, with a view to securing the economy of gold; and what action he proposes to take in the matter?
§ Mr. P. SNOWDENThe report draws the attention of Governments and public authorities to the desirability of promoting the use of cheques both by the removal of such impediments as may be caused by Stamp Duties and by such other means as lie in their power. I could not within the limits of a Parliamentary answer discuss this question in its relation to this country, but as the hon. Member is aware, there is no country in the world, except, perhaps, the United States, where the use of cheques is so widespread as in Great Britain.
§ Mr. MANDERasked the Chancellor of the Exchequer if he is able to state the amount of gold immobilised in commercial banks in this country?
§ Mr. SNOWDENInformation on this subject is not available. The provision made by Parliament with a view to the concentration of the gold reserves is contained in Section 11 of the Currency and Bank Notes Act, 1928. This provision operates without the intervention of Government.