HC Deb 23 January 1940 vol 356 cc401-2W
Mr. Woodburn

asked the Chancellor of the Exchequer (1) whether the financial agreement come to between the British and French Governments provides for arty measures to prevent inflation of the respective currencies;

(2) whether, in connection with the financial agreement completed between the British and French Governments, arrangements have been made to prevent the creation of credit by joint stock and other private banks for investment, directly or indirectly, in Government loans and for non-productive speculative purposes, tending to an uncontrolled expansion of the currency, that would destroy the basis of the agreement?

Sir J. Simon

In reply to the hon. Member's first Question, both Governments are fully aware of the necessity of co-ordinating their credit policies with a view to preventing an uncontrolled expansion of either currency. As I stated in my reply to a Question by the Leader of the Opposition on 12th December last, it is intended to have frequent meetings between the two Treasuries to examine such general problems. In answer to the hon. Member's second Question, I am unable to add to the reply which I have given to the hon. Member in answer to his first Question.