Bank of England (Blocked Gold Reserves)

Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 7th March 1967.

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Photo of Mr John Wells Mr John Wells , Maidstone 12:00 am, 7th March 1967

asked the Chancellor of the Exchequer what countries, Governments, former Governments and similar groups have blocked gold reserves in the Bank of England; and what sums are involved in each instance.

Photo of Mr John Wells Mr John Wells , Maidstone

Is the right hon. Gentleman saying that the former Baltic States have no gold reserves located in the Bank of England?

Photo of Mr James Callaghan Mr James Callaghan The Chancellor of the Exchequer, Member, Labour Party National Executive Committee

The gold which was owned by the former Baltic States was vested in the Custodian of Enemy Property in 1941 and the House gave legislative effect to that in 1951.