§ Mr. GUYasked the Financial Secretary to the Treasury the total cost of the report of the Milk Reorganisation Com- 1272W selling of foreign currencies over the exchange by private speculators?
Mr. CHAMBERLAINI am not in a position to give an estimate of the kind referred to in the first part of the question. But if my hon. Friend has in mind international short-term indebtedness I may add that according to the published estimates of the Bank for International Settlements the aggregate of international indebtedness, with maturity of not more than 12 months, of European countries and the United States has fallen by nearly 60 per cent., namely, from 70 milliard Swiss francs at the end of 1930 to 29 or 30 milliards at the end of 1934, with little change during 1935. Legislation in the sense suggested in the second part of the question would involve setting up exchange control in this country and would be contrary to the policy of His Majesty's Government in regard to the suppression of restrictions of this kind.