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Post-War International Currency

Volume 389: debated on Tuesday 25 May 1943

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asked the Chancellor of the Exchequer the theoretical aggregate of the quotas as defined in the Clearing Union plan, on the assumption that all the United Nations came into the scheme?

I am grateful to my right hon. Friend for asking this Question. In the course of the Debate on the Clearing Union Plan I said that this aggregate amounted to £25,000,000,000. I should have said 25,000,000,000 dollars.

Is the Chancellor of the Exchequer satisfied that even his figure of 25,000,000,000 dollars is correct? Is it in fact the aggregate of the sum of the export and imports of the United Nations, or is it the 75 per cent. of that sum which is suggested as the basis of quotas in the Keynes plan?

Perhaps my right hon. Friend will allow me to consider that question, and I will give him a considered answer.