§ 63. Mr. C. Osborneasked the Chancellor of the Exchequer what communication Her Majesty's Government received from the German Government before the Deutschmark was revalued, in view of the effect of this on sterling; what similar communications he has received from other European countries whose currencies are to be revalued; whether adequate resources are available to protect sterling against international speculation; and if he will make a statement.
§ Mr. Selwyn LloydHer Majesty's Government received no such communication, nor have they received any similar communication from any other Government. We are determined to maintain the exchange value of sterling and will make use of our gold and dollar reserves, and if need be our drawing rights on the International Monetary Fund, to that end.