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Wednesday, 29 June 1949

Mr ARCHIE CAMERON - Has the Treasurer any information concerning the press reports that have been cabled from Paris that France, which has been on the gold standard for some time, now has a glut of dollars and does not know exactly what to do with them?

Mr CHIFLEY - I think that the reports referred to by the honorable member, are, to say the least, a gross exaggeration of the position in France. So far from having an over-supply of American or English currency, France is 'receiving sterling assistance from the United Kingdom and dollar assistance from the United States of America under the European recovery programme. I believe the cabled report to be entirely without foundation, but I shall make inquiries to ascertain the basis for the report.

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