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Exchanges (Stabilisation)

Volume 149: debated on Friday 16 December 1921

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asked the Prime Minister whether, having regard to the fact that a trifling proportion of currency issues if continuously employed is requisite for exchanging imports and exports, he will consider the feasibility of a system of credits being jointly arranged between Great Britain, the United States of America, France, Italy, and Belgium, by which the necessary amount in pounds, dollars, francs, and lire can be stabilised over a period of years, and with little risk of loss?

If I rightly understand my hon. Friend's question, I do not think that the suggestion contained therein is in present circumstances feasible.

Has the hon. Gentleman any favourite charity which would receive a cheque for 50 guineas if he can show that the proposal is impracticable?