No fresh proposals are at present under consideration but my hon. Friend will recollect that at the Ottawa Conference the importance of maintaining the stability of exchange rates by the countries within the Commonwealth whose currencies are linked to sterling was fully recognised.
While thanking my hon. Friend for the reply, can he give the House an assurance that, while the Empire Statesmen are here in conference, this matter of the stabilisation of Empire currency, or the maintenance of a, whole Empire currency in its place, will receive serious consideration, in view of the present large fluctuations of exchanges generally?
I think that the best answer I can give to my hon. Friend is that since Ottawa South Africa has come on to a sterling standard, leaving Canada as the only important part of the Empire not on sterling.