§ Sir G. MITCHESONasked the Chancellor of the Exchequer whether the addiditions to the gold reserve of the Bank of England since our departure from the gold standard are valued at the value of gold prior to that date or at the current market value of gold in terms of sterling?
§ Mr. W. S. MORRISONUnder Section 25 of the Finance Act, 1932, gold purchased by the Issue Department of the Bank of England is carried at the fixed value of 77s. 10½d. per standard ounce, the difference between the market price and the fixed value being adjusted in the Exchange Equalisation Account.