§ Mr. DAYasked the Chancellor of the Exchequer whether he will state the total monetary gold reserves held by France and the United States of America at the most recent date; and what are these proportions to the total monetary gold reserve of the world at par; and can he state to what extent these reserves have increased or decreased during the last 12 months?
Mr. CHAMBERLAINThe information is as follows:
Gold Reserves (March, 1936). Equivalent in gold pounds at par. Millions. Millions. France (francs) 65,587 £528.0 Decrease since March, 1935. 17,048 £137.2 United States of America (dollars). 10,177 £1,235.1 Increase since March, 1935. 1,609 £195.3 The total monetary reserves of 50 countries, according to the estimates of the United States Federal Reserve Bulletin, were 22,472 millions of dollars at the end of 1935. The French gold reserve would represent on the basis of that calculation about 19 per cent. of the total and the American about 45 per cent.