§ Mr. LAMBERTasked the Chancellor of the Exchequer the amount of gold in circulation in the world; how much is held in the United States, France, Germany, Italy and Great Britain; and what is the proportion of gold reserve to currency in each country, respectively?
§ Mr. PETHICK-LAWRENCEThe monetary gold supply of the world at the end of 1929 was estimated, in Mr. Love-day's Memorandum apended to the first interim report of the Gold Delegation of the League of Nations, at 11,179 millions of dollars, equivalent to £2,297,000,000. This includes an amount "in circulation," 217W in the sense of being outside the reserves of central banks and Treasuries, estimated at 756 millions of dollars (£155,000,000), but this is very conjectural.
The gold held in the countries named at the end of 1929 and at the latest available date was (in £ millions):
— December, 1929. April, 1931. United States … 880.3 969.0 France … 335.1 447.7 Germany … 115.1 115.1 Italy … 56.1 57.4 Great Britain … 147.7 146.3 The proportion of gold to currency in circulation (exclusive of subsidiary coin) was as follows (in millions):
— Currency. Gold. Proportion. Per cent. United States $ 4,244 4,716 111.1 France Frs. 77,231 55,616 72.0 Germany Rms. 3,685 2,348 63.7 Italy Lire 14,797 5,313 35.9 Great Britain £ 349.8 146.3 41.8