§ 75. Mr. HURD
asked the Chancellor of the Exchequer whether his attention has been drawn to the proposal submitted to the Chambers of Commerce Congress at Toronto by Mr. T. F. Darling, a director of the London Joint City and Midland Bank, supported by Sir Edmund Walker, president of the Canadian Bank of Commerce, for the setting up of an Empire bank which would hold the balances of the 125 banks and kindred institutions in the Empire, and provide a new basis for the Empire's currency by means of commodity bills of exchange; and whether he will invite a few representatives of British and Overseas banking and business interests to advise him as to the feasibility of such a proposal?
Yes, Sir. I have given some considertaion to the scheme, but I think that my hon. Friend is mistaken in saying that Sir Edmund Walker supported it. If I found that such an inquiry as is suggested was generally desired in banking circles I should be ready to appoint a Committee for the purpose, but as far as I have ascertained, this is at present far from being the case.