Only a few days to go: We’re raising £25,000 to keep TheyWorkForYou running and make sure people across the UK can hold their elected representatives to account.Donate to our crowdfunder
I have been asked whether the Government have given an assurance that we would call a convention—such a convention as was contemplated at the Genoa Conference. The Genoa Conference never suggested that the Government should call any such convention; on the contrary, one of its resolutions was that the Government should not interfere with the conduct of the central banks, and we have no intention of interfering with the conduct of the central banks. I have not got by me the actual words, but I think they were "at the opportune time" and they were to be called together by the Bank of England and not by any Government at all. Upon this Amendment a good deal has been said about the Genoa Conference, and certain observa- tions of mine have been quoted. It appears very singular to me how accurately I forecasted the future at that Conference. What did I forecast? I said that in the interval before that formal convention was arrived at there should be co-operation between the heads of the central banks. I see that the Governor of the Bank of England is reported as having only yesterday or the day before met Mr. Strong, the Governor of the Federal Reserve Bank of New York.