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China (Currency Stabilisation) Money

Volume 345: debated on Monday 20 March 1939

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Considered in Commitee under Standing Order No, 6q.

[Sir DENNIS HERBERT in the Chair.]

Resolved,

"That, for the purpose of any Act of the present Session to facilitate the establishment of a fund to check undue fluctuations in the sterling value of the Chinese dollar, it is expedient to authorise—
  • (a) the issue out of the Consolidated Fund of —
  • (i) any sums, not exceeding in the aggregate five million pounds, required by the Treasury to reimburse to certain banks any amount by which the sums received by them on the winding-up of the said fund are shown to fall snort of the amount of the contribution made by them to the said fund; and
  • (ii) any sums required by the Treasury for the fulfilment of any guarantee of the payment to any such bank of interest on the amount of the contribution made by the bank to the said fund; and
  • (b) the payment into the Exchequer of any sums receivable by the Treasury on the winding-up of the said fund— (King's Recommendation signified) — [Captain Wallace]
  • Resolution to be reported To-morrow.