Secretary of the United States Treasury (Talks)

Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 29th November 1960.

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Photo of Mr Emrys Hughes Mr Emrys Hughes , South Ayrshire 12:00 am, 29th November 1960

asked the Chancellor of the Exchequer, if he will make a statement on his official talks on Friday, 25th November, with Mr. Anderson, Secretary of the United States Treasury.

Photo of Mr Emrys Hughes Mr Emrys Hughes , South Ayrshire

But does not the Minister think that some statement should be made on this question? Is it true that the American Secretary of the Treasury failed to get more money out of the Germans and now he is hoping to get more money out of us? Did the Chancellor tell him that the dollar crisis is due to the big expenditure on armaments and that the best plan for the United States would be to cut that and not try to soak either the Germans or the British taxpayer?

Photo of Mr Selwyn Lloyd Mr Selwyn Lloyd , Wirral

I do not think that it is advisable to reveal what takes place during confidential discussions, otherwise there is little value in having those discussions. We discussed the whole position. The hon. Member has not gathered the right inference in what he said.

Photo of Mr Samuel Silverman Mr Samuel Silverman , Nelson and Colne

Will the right hon. Gentleman say whether Mr. Anderson offered him any explanation of how this extremely wealthy country, with all its resources and with its economic system on which it relies and which it praises and advocates all over the world, finds itself in so parlous a condition that it has to go round with cap in hand to the Germans for aid?

Photo of Mr Selwyn Lloyd Mr Selwyn Lloyd , Wirral

We did not discuss this matter at these conversations, but the position had been made absolutely clear beforehand. It is due to the extreme generosity of the American people and the extent to which they have undertaken collective defence responsibility, because on current account they have a surplus.