§ Sir W. Smithersasked the Chancellor of the Exchequer how much gold there 1897W is available to the British Government for the purposes of an international monetary fund.
§ Sir J. AndersonI cannot anticipate what text the International Monetary Conference will formulate for the consideration of the Governments, but I would remind my hon. Friend that under Section II (3) of the Joint Statement of Principles (Cmd. 6519) we could not be called on to make a gold subscription amounting to more than one-tenth of our reserves in gold and gold-convertible currencies at the date on which the Fund is established.
§ Mr. Loftusasked the Chancellor of the Exchequer if a similar opportunity will be given to the House of Commons to discuss the principles of the proposed world bank scheme, as was afforded for discussion of the international currency plans of the experts before the British representatives at the Bretton Woods Conference, directly or indirectly commit this country to acceptance.
§ Sir J. AndersonI understand that the Bretton Woods Conference hope to conclude their work very shortly and there will not be opportunity for discussion in this House of the proposal for a United Nations Bank before the work is finished. As I have stated before, the proposals of the Conference will be referred to the respective Governments for acceptance or rejection. The question of a debate in the House will at that time be fully considered.