Currency

Oral Answers to Questions — Colonial Empire – in the House of Commons on 1st March 1944.

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Photo of Major Abraham Lyons Major Abraham Lyons , Leicester East

asked the Secretary of State for the Colonies whether be will appoint a committee to inquire into the desirability of having one common currency for Great Britain and her Colonies.

Photo of Mr Paul Emrys-Evans Mr Paul Emrys-Evans , Derbyshire Southern

The existing arrangements provide fully for the prompt and easy inter-controvertibility of United Kingdom and Colonial currencies. There would be very serious practical difficulties in the introduction of a common unit of currency. In these circumstances no useful purpose would be served by the appointment of such a committee.

Photo of Major Abraham Lyons Major Abraham Lyons , Leicester East

Have the countries and the Colonies concerned been asked their views on this matter?

Photo of Mr Paul Emrys-Evans Mr Paul Emrys-Evans , Derbyshire Southern

No, Sir. I do not think the Colonies have been asked. There has been no demand in any of the Colonies, either from the public or from the Governments.

Photo of Mr Oliver Locker-Lampson Mr Oliver Locker-Lampson , Birmingham Handsworth

Has not the time come to have one cosmic currency, a currency for the world?