§ 63 and 64. Colonel Crosthwaite-Eyreasked the Chancellor of the Exchequer (1) the amounts paid in by each member 98W of the sterling area to the dollar pool between its inception and the end of the war and the latest convenient date, respectively;
(2) the amounts in gold, dollars and other hard currencies paid to members of the sterling area, respectively, from the inception of a common reserve until the end of the war and the latest convenient date, respectively.
§ Mr. JayDuring the war the existence of Lend-Lease and Mutual Aid and the receipt of dollars from the American Armed Forces makes any such calculations meaningless. In the White Paper on the United Kingdom Balance of Payments relevant information is shown as regards the sterling area as a whole for the years 1946 and 1947. I do not feel that any useful purpose would be served by showing the position of individual countries.
§ 65. Colonel Crosthwaite-Eyreasked the Chancellor of the Exchequer in view of the policy of His Majesty's Government, what action is taken to ensure that no release from the common gold and hard currency reserves of the sterling area held by this country is made to a member of the sterling area without the approval of other members of the area.
§ Mr. JayThere is a full and regular exchange of information between members of the sterling area on their dollar expenditure and earnings, but each Government must of course be responsible for decisions affecting its own economy.