§ 58. Colonel Crosthwaite-Eyre
asked the Chancellor of the Exchequer for what reason he refused permission for the expenditure of hard currency during 1950 for the purchase of iron ore from New foundland; and what was the total sum of currency required for such purchases of iron ore.
§ Mr. Gaitskell
In the autumn of 1949, in view of our serious dollar difficulties and the reasonable prospect of adequate and cheaper supplies of ore for 1950 from non-dollar sources, it was decided that we could not at that time afford dollars for the import of Newfoundland ore. This policy was maintained until June, 1950, when it became clear that non-dollar supplies would be inadequate, and authority was given for the import of 300,000 tons of Newfoundland ore.