China (Dollar Stabilisation Fund).

Part of Oral Answers to Questions — Unemployment. – in the House of Commons at on 8 March 1939.

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Photo of Mr John Simon Mr John Simon , Spen Valley

Yes, Sir, that is the nature of the arrangement. The two British banks are putting up, as the House appreciates, under this arrangement the sum of £5,000,000, and, of course, the first charge on any result would be to indemnify them, but as soon as that has. been done any further profit which would come to the share of the British banks would be transferred to the British Treasury.