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European Economic Co-Operation (Payments)

Volume 465: debated on Thursday 2 June 1949

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61.

asked the Chancellor of the Exchequer what amounts of gold and dollars have been paid to the Organisation of European Economic Co-operation countries each month from the inception of the Intra-European Payments Agreement.

I will, with permission, circulate the figures in the OFFICIAL REPORT.

Can my hon. Friend give me something more intelligible? I want to know the answer particularly. Can he say if the gold was sent in bullion and not in coin, what amount was involved, and what was the rate per fine ounce?

The figures which I propose to circulate are perfectly intelligible, and they show, as I think the House knows, considerable payments to Switzerland and Belgium in particular. The other points which my hon. Friend raised are not in his Question, and perhaps he will give notice of them.

Surely I am entitled to know what amount is involved, and surely my hon. Friend can tell me that, as I wish to do a bit of propaganda on this subject.

Following are the figures:

GOLD AND DOLLAR SETTLEMENTS IN CONNECTION WITH PAYMENTS AGREEMENTS WITH O.E.E.C. COUNTRIES
Paid in£'000
BelgiumSwitzerlandBizone
1948
October2,5005003,161
November500
December
1949
January2,700801,502
February1,700288
March1,2311,496
April2,2601,696
May1,7921,015