Oral Answers to Questions — Monetary Policy.

– in the House of Commons on 28th March 1935.

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Photo of Mr David Mason Mr David Mason , Edinburgh East

35.

asked the Chancellor of the Exchequer whether, in view of the distress and depression of trade, both internally and externally, affecting adversely our foreign trade which is taking place in the gold bloc countries, and which has been accentuated by the fall in the value of the paper pound, His Majesty's Government will now take steps to advance the establishment of a common monetary standard?

Mr. CHAMBERLAIN:

I am not aware of any steps which could at this moment usefully be taken by His Majesty's Government to establish a common monetary standard.

Photo of Mr David Mason Mr David Mason , Edinburgh East

Can the right hon. Gentleman say when he will be in a position to give some information, and how much distress and depression of trade are necessary before he takes action?

Mr. CHAMBERLAIN:

It is not a question of how much distress and depression of trade occurs, but when conditions are such that useful action may be taken.