We handed over to America vast sums of gold which led ultimately to the Crisis of August of this year.
I am very grateful to the Prime Minister for his speech last night, because now we can realise, I think, that we have heard the last about his colleagues who ran away, for it is quite clear that he had changed his views long before the August Crisis.
I heard over the wireless last night the same old lie that unemployment and the financial Crisis of August 12 months ago was due to the Labour Government.
and, as the Crisis of August, 1931, was largely due to an adverse balance of payments, whether he can arrange for the problem to be considered by the Economic Advisory Council with a view to early measures to avert the risk of a further crisis?
There was a Crisis in August.
At the time of the Crisis in August the "Times" had a leading article entitled "A New Dawn".
At the time of the Crisis in August the "Times" had a leading article entitled "A New Dawn".
The most recent figures available, which are for the last quarter of 1947, after the impact of the August Crisis was beginning to be felt, show an annual rate of entry of nearly 17,000, and that in a quarter when the number of school leavers is at a very low level.
We really cannot overlook, in studying the record of the previous Chancellor, the big contribution made to that Crisis of August by the so-called "leak" through the Kuwait gap; that is to say, the transfer of capital owned by British residents here from this country to the United States and to Canada to the tune of about £100 million to £150 million.
The floating debt at the time of near Crisis in August, 1957, was £5,022 million.
In the Crisis of August, 1969, when I accepted the advice of my right hon. Friend the then Home Secretary, I said - and he will confirm this - that the posture of the British Government must be to show themselves firm, cool and, above all, fair.
Similarly, as paragraph 86 states: "The German Ambassador said that without EMU it was highly probable that the effects of the Russian financial Crisis in August 1998 would have had repercussions in the money market 'and the normal course of events would have been that the German Mark would have gone up and other currencies of EU countries would have gone down'".
In the current state of the market, it will have to be paid substantially more to take up the debt than it would had the Crisis of August onwards not happened.
We have already heard from the Minister that if there was a major financial Crisis in August when Parliament was not sitting, the Treasury could spend billions and billions of pounds off its own bat, and when we came back in October, we might get a report about that.