§ Colonel Wedgwoodasked the Chancellor of the Exchequer whether he will consider ending the stop on the American exchange, or consider under what circumstances this could be done with advantage to this country?
§ Sir K. WoodIf the suggestion is that sterling should be freely convertible in dollars at the official rate for all purposes, I regret that in present circumstances this is impracticable. If, on the other hand, the suggestion is that the official rate of exchange, which has prevailed since the outbreak of war, should no longer be maintained, the reply is that I am convinced that it would be most undesirable in the national interests to adopt this suggestion.
320W