§ 66. Mr. THORNE
asked the Chancellor of the Exchequer the number of countries which have discontinued the Gold Standard since 21st September, 1931; whether the Government has considered the advisability of reverting to the Gold Standard; and whether any negotiations are going on between the Government and other Governments on the subject of convening an international conference with a view of fixing an international standard of exchange?
§ Mr. P. SNOWDEN
Portugal, Norway, Sweden and Bolivia have temporarily abandoned the Gold Standard since 21st September, 1931, and the Government of Denmark have temporarily prohibited the export of gold. It would be premature at present to make any statement in reply to the second part of the question, since the future policy of this country will have to be decided later in the light of the existing circumstances at home and abroad, but I think it right to repeat that it is the firm determination of the Government to avoid any inflationary measures, and too much regard should not be paid to temporary fluctuations. The answer to the last part of the question is in the negative.
§ Mr. THORNE
Does the right hon. Gentleman anticipate that all the Gold Standard countries will now follow the example of Britain? Is it not about time, that some movement was made to call an international conference?
§ Mr. SNOWDEN
The Government have a policy on the Gold Standard question, but it is quite impossible in an answer to a supplementary question for me to say what that policy is.